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...

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Bibliographic Details
Main Authors:	Wang Yong, Chen Xiaomin
Format:	Article
Language:	English
Published:	EDP Sciences 2015-01-01
Series:	SHS Web of Conferences
Subjects:	listed company stock returns credit rating
Online Access:	http://dx.doi.org/10.1051/shsconf/20151701021

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spelling	doaj-cc7ed005c72849abb8300329df9083f12021-04-02T10:42:00ZengEDP 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
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Wang Yong Chen Xiaomin
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
author_facet	Wang Yong Chen Xiaomin
author_sort	Wang Yong
title	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_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_sort	empirical study of the relationship between the listed company stock returns and the credit rating
publisher	EDP Sciences
series	SHS Web of Conferences
issn	2261-2424
publishDate	2015-01-01
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.
topic	listed company stock returns credit rating
url	http://dx.doi.org/10.1051/shsconf/20151701021
work_keys_str_mv	AT wangyong anempiricalstudyoftherelationshipbetweenthelistedcompanystockreturnsandthecreditrating AT chenxiaomin anempiricalstudyoftherelationshipbetweenthelistedcompanystockreturnsandthecreditrating AT wangyong empiricalstudyoftherelationshipbetweenthelistedcompanystockreturnsandthecreditrating AT chenxiaomin empiricalstudyoftherelationshipbetweenthelistedcompanystockreturnsandthecreditrating
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An Empirical Study of the Relationship between the Listed Company Stock Returns and the Credit Rating

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