Abstract：This paper studies the market effects of two kinds of policies in medical device industry to examine policies impact on the industry.This paper takes the method of Event Study,finding out that consumption alert on products caused a huge damage to listed companies,whose average of return fell by 8%,and the companies market value decreased by 2.8 billion.However,the industrial supporting-policy and reasonable national planning made the companies share price rise by 4% on average,which means the whole market value rose by 2.0 billion.The empirical results show that share prices yield rate of medical device listed companies are significantly associated with whether good supporting polices or bad policies like consumption-alert.That is to say,the governments policy stimulates medical device industry effectively and significantly
张骥, 史占中. 医疗器械行业的政策有效性探究——基于上市公司投资收益率的实证研究[J]. 中国科技论坛, 2014(6): 51-55.
Zhang Ji, Shi Zhanzhong. Testing of Effectiveness of Medical Device Policy —— Empirical Study on Listed Companies'Investment Return. , 2014(6): 51-55.
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