Microsoft Word - 4326.doc 关键词： 长期超额收益；购买并持有超额收益；并购溢价 [gap=18320]Key words: Long-Run Abnormal Return; BHAR; Takeover Premium
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The IPOs' long-run abnormal returns are sensitive to which benchmark's return is adjusted by, and to which method of weighting average is employed.
IPO长期超常收益率对使用何种参照指标的收益率来调整以及使用何种加权平均方法很敏感。
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