Study on formation of anomalies in market response to punishment bulletins in China's stock market

被引：0
|
作者：
Yang, Y. [1 ]
Feng, S. L. [1 ]
机构：
[1] Univ Jinan, Sch Econ, Jinan, Peoples R China
来源：
INFORMATION SCIENCE AND MANAGEMENT ENGINEERING, VOLS 1-3 | 2014年 / 46卷
关键词：
Punishment bulletin; market response; formation of anomalies;
D O I：
10.2495/ISME20133333
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
A number of anomalies have been observed in China's stock market when punishment bulletins came out. A general process of information transferring in stock markets is described in this paper to find out the potential factors for anomalies. The existence of private channels of information transforming, the time lag of punishment, the inefficiency of punishment and traders' behavior deviated from rationality will lead to anomalies in market response to punishment bulletins. Among these anomalies, some are the proof of market inefficiency while others are otherwise.
引用
收藏
页码：2465 / 2470
页数：6
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