Investors’ Reactions to Annual Reports--Based on the Shenzhen Stock Market

摘要：

　　This study,using a unique dataset of account information for all shareholders in Chinas Shenzhen Stock Exchange,analyzes the different investor behaviors after the release of annual reports and their reactions to revenue information.Results indicate that individual investors are apt to increase their positions after the release of the annual report,whereas institutional investors do the opposite.We assume that their different degrees of confidence lead to different behaviors after the annual announcements.

关键词： Account information Reactions to annual report Overconfidence

作者: Li Zhuwei Hong Xien Fu Yuan Wang Baolu Su Xuexin

作者单位: Faculty of Management and Economics,Dalian University of Technology,Dalian,China,116024

会议类型: 国际会议

会议名称: The 10th (2018)International Conference on Financial Risk and Corporate Finance Management(第十届(2018)金融风险与公司金融国际研讨会)

会议地点: 大连

会议语种:英文

页码: 204-209

在线出版日期: 2018-07-06（万方平台首次上网日期，不代表论文的发表时间）