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Chinese Journal of Management Science. 2014, (S1) Core

Empirical Study on Effect of Reduction of Original Non-tradable Shares on Chinese Stock MarketChinese Full Text

CHEN Qi-an;ZHANG Hong-zhen;School of Economics and Business Administration,Chongqing University;

Abstract: On the basis of existing research,the event study and market model are optimized in this paper to estimate market abnormal returns,with the aim of determining the influence of reduction of original non-tradable shares on Chinese stock market.The results show that:reduction of original non-tradable had an significantly negative effect on Chinese stock market,which not only appears in short-term,but also in long-term;there is obvious signs of stock price manipulation during the reduction,existing ... More
Keywords：

reduction of original non-tradable shares; abnormal returns; benefit expropriation;

  • DOI：

    10.16381/j.cnki.issn1003-207x.2014.s1.060

  • Series：

    (J) Economics ＆ Management

  • Subject：

    Macro-economic Management and Sustainable Development; Finance; Securities; Investment; Market Research and Information

  • Classification Code：

    F832.51;F224

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