摘要
多年来房地产行业上市公司股票为散户投资者大量持有,其股价振幅明显大于市场平均水平。经实证研究发现,房地产行业市值与市场活跃度正相关,与机构、自然人持股比例负相关。房地产上市公司若疏于市值管理,则不利于顺利展开投融资与对外并购,也不利于吸引稳健的投资者。为加强市值管理,房地产上市公司需要掌握好投融资的节奏与力度,选准时机进行拆分或并购,随股市行情波动进行股份回购、增持或减持,并引入战略投资者与机构投资者长期持股。
For many years,the stocks of listed companies in the real estate industry have been heavily held by retail investors,and their stock price fluctuations are significantly higher than the market average.Empirical research has found that the market value of the real estate industry is positively correlated with market activity,and negatively correlated with the shareholding ratio of institutions and natural persons.If real estate listed companies neglect market value management,it is not conducive to smooth investment and financing and external mergers and acquisitions,nor is it conducive to attracting stable investors.To strengthen market value management,real estate listed companies need to master the pace and intensity of investment and financing,choose the right timing for mergers and acquisitions,repurchase,increase or decrease shares in response to fluctuations in the stock market,and introduce strategic and institutional investors for long-term shareholding.
作者
童元松
TONG Yuan-song(Digital Economy College of Changzhou Information Vocational and Technical College,Changzhou,Jiangsu 213164)
出处
《江苏商论》
2024年第7期85-90,共6页
Jiangsu Commercial Forum
基金
农业农村部软科学研究项目(RKX2019057C)
常州信息职业技术学院高级人才引进科研启动项目、科技创新团队、教学创新团队(SG050202010201、CCIT2021STIT020103、SG05020301050715)。
关键词
房地产
上市公司
市值管理
机构投资者
real estate
Listed companies
Market value management
institutional investor
作者简介
童元松(1973—),男(汉),安徽安庆人,常州信息职业技术学院经济学教授,经济学博士,研究方向:证券投资。
