Institutional Investors and the Market Volatility-An Empirical Study Based on the Panel Data of Chinese Listed Companies (2004～2007)

摘要：

Along with the great boom in the equity market in the past few years, Chinas institutional investors have expanded dramatically.This paper focuses on the influences of institutional investors, such as mutual funds, insurance companies, QFII and pension funds (including social security funds and enterprise annuity), on the market volatility. Our empirical study shows that the leapfrog development of the institutional investors fails to lead to a more stable and rational market.

关键词： institutional investors market volatility panel data

作者: Cai Qingfeng Song Youyong

作者单位: The department of Finance Xiamen University 361005,Fujian,China

会议类型: 国际会议

会议名称: International Symposium on Financial Engineering and Risk Management(2008年金融工程与风险管理)

会议地点: 上海

会议语种:英文

页码: 123-126

在线出版日期: 2008-06-01（万方平台首次上网日期，不代表论文的发表时间）