Information Advantage or Over Optimism: Evidence from Insider Trading of Delisted Companies

被引：0

作者：

Zhu Linbin ^{[1
]}

Li Peigong ^{[1
]}

机构：

[1] Xiamen Univ, Sch Business, Xiamen, Peoples R China

来源：

EBM 2010: INTERNATIONAL CONFERENCE ON ENGINEERING AND BUSINESS MANAGEMENT, VOLS 1-8 | 2010年

关键词：

Information Advantage; Over Optimism; Delisted Companies;

D O I：

暂无

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

The rise of the behavioral finance provides a new perspective to stock trading of managers and blockholders. The traditional dispute on insider trading focuses on information advantage with disagreement on its methodology. Using absolute volume and proportion of insider trading and a special database of Chinese delisted companies to avoid the methodological dispute, our paper examines which fits best the condition in China, the hypothesis of information advantage or the hypothesis of over optimism. Our result seems to support the hypothesis of over optimism.

引用

页码：4012 / 4016

页数：5