An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating
Based on the analysis of stock price changes motives, we select five indicators (market systemic risk, book-to-market ratio, net income per share, net profit growth rate and size of the company) from the factors which affect stock yields, introduce the variable-credit rating, construct a multi-facto...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
EDP Sciences
2015-01-01
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| Series: | SHS Web of Conferences |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1051/shsconf/20151701021 |
| _version_ | 1830478108995616768 |
|---|---|
| author | Wang Yong Chen Xiaomin |
| author_facet | Wang Yong Chen Xiaomin |
| author_sort | Wang Yong |
| collection | DOAJ |
| description | Based on the analysis of stock price changes motives, we select five indicators (market systemic risk, book-to-market ratio, net income per share, net profit growth rate and size of the company) from the factors which affect stock yields, introduce the variable-credit rating, construct a multi-factor model which is suitable for China's stock market, study the relationship between stock yields of listed companies and credit rating. It was found that stock yields are negatively related to credit risk, and listed companies with low credit risk will get higher stock returns in the future than those with high credit risk. |
| first_indexed | 2024-12-21T16:25:10Z |
| format | Article |
| id | doaj.art-cc7ed005c72849abb8300329df9083f1 |
| institution | Directory Open Access Journal |
| issn | 2261-2424 |
| language | English |
| last_indexed | 2024-12-21T16:25:10Z |
| publishDate | 2015-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj.art-cc7ed005c72849abb8300329df9083f12022-12-21T18:57:29ZengEDP SciencesSHS Web of Conferences2261-24242015-01-01170102110.1051/shsconf/20151701021shsconf_icmetm2015_01021An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit RatingWang YongChen XiaominBased on the analysis of stock price changes motives, we select five indicators (market systemic risk, book-to-market ratio, net income per share, net profit growth rate and size of the company) from the factors which affect stock yields, introduce the variable-credit rating, construct a multi-factor model which is suitable for China's stock market, study the relationship between stock yields of listed companies and credit rating. It was found that stock yields are negatively related to credit risk, and listed companies with low credit risk will get higher stock returns in the future than those with high credit risk.http://dx.doi.org/10.1051/shsconf/20151701021listed companystock returnscredit rating |
| spellingShingle | Wang Yong Chen Xiaomin An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating SHS Web of Conferences listed company stock returns credit rating |
| title | An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating |
| title_full | An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating |
| title_fullStr | An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating |
| title_full_unstemmed | An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating |
| title_short | An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating |
| title_sort | empirical study of the relationship between the listed company stock returns and the credit rating |
| topic | listed company stock returns credit rating |
| url | http://dx.doi.org/10.1051/shsconf/20151701021 |
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