Research On The Effect Of Business Performance Of Stock Listed Companies To Stock Liquidity

The GEM market was originally a financing platform for China's small and medium-sized enterprises with great development potential and good market prospects.In recent years,the GEM market liquidity performance is also very active.In 2015 China's capital market bull market when the GEM signs hit a new high of 4037.96.However,in the market so active behind,the GEM listed company's stock liquidity is a good business performance support? What is the impact of business performance on stock liquidity? Through this study will be answered.Based on the detailed theoretical analysis,the article makes three assumptions to do the empirical test,that is,assuming that 1: GEM listed companies operating performance on the stock flow of the stock market performance of the listed companies on the impact of the company's stock performance The impact of the study of hypothesis 2: GEM listed companies operating performance on the stock liquidity impact of the effect is obvious;study hypothesis 3: entrepreneurial listed companies operating performance impact on the impact of stock liquidity is weak.Finally,according to the empirical results to draw the corresponding conclusions and the possible results may be the end result.The first part introduces the research background and research significance of the article.The second part summarizes the research results of the related problems at home and abroad by referring to the previous research methods.The third part is the introduction of theoretical knowledge,Logical research;the fourth part of the empirical study,including the study of the design and selection of variables,the processing and screening of empirical data,model construction and model testing.Through the empirical test results found that the GEM listed companies operating performance on the impact of stock liquidity is indeed a positive impact,but relative to the performance of good business performance in terms of the impact of business performance but not relatively poor performance of the company's impact more Significantly.That is,the companies with poor performance in the sample companies chosen in this paper have more explanations on the performance of stock liquidity.Therefore,this paper argues that the difference between the results of different companies 'operating performance on stock liquidity and the assumptions of this hypothesis lies in the irrational investment behavior of investors.Investors' investment behavior is affected by many factors.Although business performance is the main reference Factors,but still subject to other factors more or less interference and deviation.Finally summarize the conclusions and conclusions of the conclusions of the article gives the article revelation.