Research On The Information Connotation Of The Text Characteristics Of The Dimission Announcement Of The Senior Executives Of Listed Companies

As the core personnel in the company,the executives play an important role in the decision-making of all aspects of the listed company.An excellent executive will lead the company to a new journey when the executives of the listed company change,Will have a decisive impact on the company's internal governance framework and performance,which in turn will cause the company's stock price to fluctuate.After the announcement of the executive departure,the market will conduct an in-depth analysis of the internal information of the executive departure based on the detailed information in the executive departure announcement,and then influence the purchase or sale of the stock according to its own judgment,and to a certain extent,the listing The company's stock price has an impact.China has not reached a consistent conclusion on the market response to the information representation of executive departure announcements.This article studies the emotional factors implied in the wording of executive departure announcements by listed companies,and analyzes the market for executive departures under different conditions.The information connotation response of the text announcement.This article first sorts out the current literature on executive changes at home and abroad and explores the market's tendency to respond to the departure of listed company executives in domestic and foreign research.From the perspective of information asymmetry and market effectiveness,the paper analyzes the market's implications for text information the emotional orientation of the response,and then analyze the impact of executive departure announcement text on stock price changes.The empirical aspect starts from whether the listed company has a thank-you note,and further explores the listed companies with different degrees of gratitude,and performs a regression analysis on the reaction of other additional information of executive departure to the market.The empirical analysis in this paper shows that market investors show a positive market tendency for the thankful listed company executives to leave the company,and further research on the thank you text found that different types of thank you words classification will trigger different market reactions.In addition,high Regarding the reasons for leaving the company and whether the executives will succeed after leaving office will also affect the market's judgment on the emotional tendencies of the thank-you words in the text,which will lead to stock price fluctuations.Among them,the market will make a significant response to the text information of executives who have left or have not succeeded after leaving.