【摘要】 本文运用2009年7月至2012年6月的数据对我国上证A股市场的规模效应进行分析。选择在次贷危机冲击过程中我国企业面临调整与革新的这一特殊阶段,研究规模效应是否存在。通过描述性统计分析和相关分析验证了规模效应的存在性;通过引入分位数回归模型,进一步验证了规模效应的存在性;同时揭示了A股规模边际收益的变化规律,即随着规模的减小,边际收益先变大后变小,且规模边际收益都为负值。更多还原

【Abstract】 This paper uses the A-share market data in China from the July,2009 to the June,2012 to make an analysis of its scale effect. It selects this special period of adjustment and innovation that China’s enterprises face in the process of the sub-prime crisis to study whether the scale effect exists or not. Through descriptive statistical analysis and correlation analysis,it verifies the existence of scale effect; by introducing a quantile regression model,it further verifies the existence scale effect. At the same time,it also reveals how A-share marginal benefit changes with scale: as the scale decreases,marginal revenue become bigger first and then smaller,and the marginal revenue scale is negative.更多还原