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Price Limit, Superior Information and Investor Behavior: Evidence from China Stock Market

FAN Li-min LONG Zheng-ping ZHU Bao-jun

东华大学学报（英文版）2007，Vol.24Issue(4)：560-564,5.

Price Limit, Superior Information and Investor Behavior: Evidence from China Stock Market

FAN Li-min ¹LONG Zheng-ping ²ZHU Bao-jun³

作者信息

1. Business School, Guangxi University, Nanning 530004, China
2. International Business Management and Administration School, Shanghai University of Finance and Economics, Shanghai 200438, China
3. Management School, Shanghai Jiaotong University, Shanghai 200052,China
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摘要

Abstract

The mechanism of price limit impacts on informed traders' behavior. To find out what effects related to price limit, three hypotheses caused by price limit are analyzed.Comprehensive method of event study and comparative grouping is used to test the performance of price limit in Chinese stock market. The result of test indicates that price limit policy impedes fulfillment of traders and delays the discovery of stock price so it should be abolished.

关键词

price limit/price discovery/superiorinformation/trade delay

Key words

price limit/price discovery/superiorinformation/trade delay

分类

管理科学

引用本文复制引用

FAN Li-min,LONG Zheng-ping,ZHU Bao-jun..Price Limit, Superior Information and Investor Behavior: Evidence from China Stock Market[J].东华大学学报（英文版）,2007,24(4):560-564,5.

基金项目

National Nature Science Foundation (04104007, 60323043, 60293061) （04104007, 60323043, 60293061）

东华大学学报（英文版）

ISSN：1672-5220

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