Abstract
The paper investigated the question whether excess profits exist among ST stocks in China, under the circumstances of adjusting risk and not adjusting risk. Firstly, the paper made a group of t-test of significant difference between ST stocks and the financial market and normally listed stocks, on the holding income and accumulative total income; Then, the article made and empirical study on the investing risk of ST stocks by estimating their Beta coefficients. The result shows that, only the ST stocks and *ST stocks outperformed the financial market and normally listed stocks in the short run by the geometry average earnings, but it is not always the case in the long run.
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Hu, W., Niu, J., Mu, Q. (2012). Empirical Research on the Level and Quality of Gains from ST Stocks in China. In: Zhu, M. (eds) Business, Economics, Financial Sciences, and Management. Advances in Intelligent and Soft Computing, vol 143. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-27966-9_13
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DOI: https://doi.org/10.1007/978-3-642-27966-9_13
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-27965-2
Online ISBN: 978-3-642-27966-9
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