Overreaction of the Lock up Provisions of Non-tradable Shares

摘要：

　　Since the split share structure reform has been implemented, the release of the non-tradable shares has caused significant concern.During this paper we analyze six points before and after the releasing to find out the fluctuations those events brought to the market and why those fluctuations exist.According to the result of our research the release of those restricted stocks will lead investors overreaction and their behaviors have differences when the event approaching.The psychological change of the investors will lead to great influence of the whole market.

关键词： Non-tradable shares Investors overreaction Influence of market

作者: FANJia-qi SONG Jia-rui HUAN Yu

作者单位: School of Mathematics,University of Manchester,Manchester,UK,M13 9PL School of Finance,Central University of Finance and Economics,Beijing,P.R.China,100081 Chinese Academy of Finance and Development,Central University of Finance and Economics,Beijing,P.R.C

会议类型: 国际会议

会议名称: 2013 International Conference on Public Administration (9th)(2013年第九届公共管理国际会议)

会议地点: 南非

会议语种:英文

页码: 1010-1015

在线出版日期: 2013-10-31（万方平台首次上网日期，不代表论文的发表时间）