Empirical analysis of the insider trading´s characteristics in China stock market

Author

Zhang, Xuan

Author_Institution

Sch. of Econ. & Manage., Beijing Jiaotong Univ., Beijing, China

fYear

2011

fDate

8-10 Aug. 2011

Firstpage

6628

Lastpage

6631

Abstract

Choosing the sample cases disclosed by China Securities Regulatory Commission between 2004 and 2010, this paper conducts empirical analysis for the insider´s trading from the fluctuation and characteristics of three indicators - cumulative abnormal returns, volume´s fluctuation index, announcement effect and inside information effect, based on improved event study method. The result gives support to improve the method of real-time supervision of insider trading with the assistance of high technology and thus developing a more rigorous and efficient supervision of the securities market.

Keywords

commercial law; econometrics; securities trading; China Securities Regulatory Commission; China stock market; announcement effect; cumulative abnormal returns; empirical analysis; event study method; inside information effect; insider trading characteristics; real-time supervision; securities market; volume fluctuation index; Companies; Corporate acquisitions; Fluctuations; Indexes; Security; Stock markets; characteristics; event study method; insider trading; real-time supervision; regulatory efficiency;

fLanguage

English

Publisher

ieee

Conference_Titel

Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on

Conference_Location

Deng Leng

Print_ISBN

978-1-4577-0535-9

Type

conf

DOI

10.1109/AIMSEC.2011.6010631

Filename

6010631