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arXiv · 1211.2754

Coal Enterprise Management and Asynchronism of Return

Kenan Qiao
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Abstract

For researching the association between coal enterprise management and return in financial market, this paper applies the method of time difference relevance and PageRank method to seek the leader-index of a stock set containing 21 coal enterprises in A-share market and score those stocks. Based on the return in 2011, the asynchronism of the return series is revealed and presents a hierarchical structure of our stock set. Finally, we compare the result with the firm-level variables and discuss the relation between them. The results show that those large coal enterprises with a good management condition always present an antecedence of stock return; there is a significant positive association between company scale and the score given by PageRank method.

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Kenan Qiao. 2012-11-09. Coal Enterprise Management and Asynchronism of Return. https://arxiv.org/abs/1211.2754

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