Abstract
The article mainly consists of four sections, the first section is the basic introduction and literature review, the second is the background review of institutional investors and stock synchronization, the third is the empirical research and the last is the Conclusion. This paper use the basic literature review method, descriptive statistics and OLS models analysis to explore the Impact of institutional Investors on Stock Price Synchronicity. Using the data of 569 listed firms at Shanghai stock market from 2009 to 2012, this paper investigates the impact of institutional investors’ behaviors on stock price synchronicity. We find that the institutional investors’ long-term investments can reduce stock price synchronicity and increase the information efficiency of the stock market. However, the short-term trading of institutional investors does not necessarily reduce stock price synchronicity. Therefore, the Chinese police-makers should regulate institutional investors and encourage constructive long-term investment behaviors, to make it really rise to enhance the effectiveness of capital market information, and improve the efficiency of capital market resource allocation. The main contributions of this paper is that we investigate the stock price synchronicity from the perspective osf institutional investors’ behaviors and A–share market.
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Kun, L., Yu, L., Hu, X. (2018). The Impact of Institutional Investors on Stock Price Synchronicity: Evidence from the Shanghai Stock Market. In: Xu, J., Gen, M., Hajiyev, A., Cooke, F. (eds) Proceedings of the Eleventh International Conference on Management Science and Engineering Management. ICMSEM 2017. Lecture Notes on Multidisciplinary Industrial Engineering. Springer, Cham. https://doi.org/10.1007/978-3-319-59280-0_130
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DOI: https://doi.org/10.1007/978-3-319-59280-0_130
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