How better informed are the institutional investors?

被引：10
|
作者：
Cai, Jinghan [2 ]
He, Jia [3 ,4 ]
He, Jibao [1 ]
机构：
[1] Shenzhen Stock Exchange, Res Inst, Shenzhen 518028, Peoples R China
[2] Boston Coll, Chestnut Hill, MA 02167 USA
[3] Sichuan Univ, Chengdu, Peoples R China
[4] Chinese Univ Hong Kong, Hong Kong, Hong Kong, Peoples R China
来源：
ECONOMICS LETTERS | 2010年 / 106卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Probability of informed trading; Institutional investors; Individual investors; PRICES;
D O I：
10.1016/j.econlet.2009.12.008
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We extend the EKOP model and estimate the probability of informed trading of institutions (SPIN) and individuals (DPIN) respectively. Using a unique dataset of Chinese stock market. we confirm that institutions are better informed by documenting a significantly higher SPIN. (c) 2009 Elsevier B.V. All rights reserved.
引用
收藏
页码：234 / 237
页数：4
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