CAJ | 학술논문

以哈大齐工业走廊的上市公司数据为基础，运用 Fama‐French 三因素模型，实证分析哈大齐工业走廊上市公司市场股票收益率的影响因子。检验三因素模型分析对于哈大齐上市公司股票收益率分析的有效性。结果表明：存在规模与价值效应，股票收益率与公司规模呈负相关关系，而与公司账面市值比呈正相关关系。
이합대제공업주랑적상시공사수거위기출，운용 Fama‐French 삼인소모형，실증분석합대제공업주랑상시공사시장고표수익솔적영향인자。검험삼인소모형분석대우합대제상시공사고표수익솔분석적유효성。결과표명：존재규모여개치효응，고표수익솔여공사규모정부상관관계，이여공사장면시치비정정상관관계。
Based on the data of the listed corporation of Ha‐Da‐Qi Industrial Corridor ,the Famam‐French three‐factor model is used to analyze the factors that impact market stock return rate of listed corporations in Ha‐Da‐Qi Industrial Corridor . T he effectiveness of analysis is examined by the three‐factor model . Empirical analysis shows the size and value effect ,and the stock returns are negatively related with the company size ,and positively correlated with the corporation book value .