An econometric analysis of the performance of reorganized firms : Using the re-listed firms' data

本研究旨在探讨企业重组后的绩效。完成法律的重组程序后重新上市的重组公司。数据收集自1990-2009年期间重组的公司，包括5家重新上市的公司。收集的数据采用标准的计量经济学方法进行分析。其中β系数估计用于检测期间可能的结构变化。研究结果表明，样本公司的贝塔系数的大小有减小的趋势。由于样本量有限，结果不具有稳健性。然而，如果这种趋势不是例外，它肯定会为未来的研究提供一个有希望的主题。

The purpose of this study is to investigate the performance of the post-reorganized firms. Reorganized firms that relisted after the completion of their legal reorganization procedure. Data are collected from reorganized firms including 5 relisted firms douring the period between 1990-2009. Collected data are analized by standard econometric method. Among them beta coefficients are estimated for detecting the possible structural changes during the period. The results suggest that the tendency of the decrease in the size of beta coefficients of sample firms. Since the size of sample is limited, the results would not be robust. However, if this tendency would not be exceptional, it surely gives a promising theme for future research.