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Government Stock Purchase Undermines Price Informativeness: Evidence from China’s “National Team”
16 references·0 citing·47 second hopsampled
Government Stock Purchase Undermines Price Informativeness: Evidence from China’s “National Team” (2023)Government Stock Purchase Undermines Pric…Size and value in China (2019)Size and value in ChinaThe Real Effects of Financial Markets (2012)The Real Effects of Financial…Investor Inattention and Friday Earnings Announcements (2009)Investor Inattention and Frid…Market Liquidity and Funding Liquidity (2008)Market Liquidity and Funding …Price Informativeness and Investment Sensitivity to Stock Price (2006)Price Informativeness and Inv…Momentum and post-earnings-announcement drift anomalies: The role of liquidity risk (2005)Momentum and post-earnings-an…Voting with their feet: institutional ownership changes around forced CEO turnover (2003)Voting with their feet: insti…Momentum, Business Cycle, and Time‐varying Expected Returns (2002)Momentum, Business Cycle, and…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Differences of Opinion and the Cross Section of Stock Returns (2002)Differences of Opinion and th…The information content of stock markets: why do emerging markets have synchronous stock price movements? (2000)The information content of st…Herding and Feedback Trading by Institutional and Individual Investors (1999)Herding and Feedback Trading …Do Investors Trade Too Much? (1999)Do Investors Trade Too Much?The Components of the Bid-Ask Spread: A General Approach (1997)The Components of the Bid-Ask…Momentum Strategies (1996)Momentum StrategiesLiquidity, Information, and Infrequently Traded Stocks (1996)Liquidity, Information, and I…Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Continuous Auctions and Insider Trading (1985)Asset pricing and the bid-ask spread (1986)Liquidity and stock returns: An alternative test (1998)Market microstructure: A survey (2000)Noise Trader Risk in Financial Markets (1990)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Investor Psychology and Security Market Under‐ and Overreactions (1998)Driven to Distraction: Extraneous Events and Underreaction to Earnings News (2009)Innovative efficiency and stock returns (2012)Sentiment During Recessions (2012)Editor's Choice Digesting Anomalies: An Investment ApproachThe Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Media Coverage and the Cross‐section of Stock Returns (2009)… and the Cross-Section of Expected Returns (2015)Risk, Return, and Equilibrium: Empirical Tests (1973)Mutual Fund Herding and the Impact on Stock Prices (1999)Institutional Investors and Equity Prices (2001)What Makes Investors Trade? (2001)Credit Rationing in Markets with Imperfect Information (1981)Bank Runs, Deposit Insurance, and Liquidity (1983)Liquidity and leverage (2008)Deciphering the Liquidity and Credit Crunch 2007–2008 (2009)Econometric measures of connectedness and systemic risk in the finance and insurance sectors (2012)A Contribution to the Theory of Economic Growth (1956)Increasing Returns and Long-Run Growth (1986)Law and Finance (1998)Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk (2001)R2 around the world: New theory and new tests☆ (2005)Does board gender diversity improve the informativeness of stock prices? (2011)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Investor Psychology and Asset Pricing (2001)The Efficient Market Hypothesis and Its Critics (2003)Who Gambles in the Stock Market? (2009)Financing Constraints and Corporate Investment (1988)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The Information Role of Conservatism (2008)Intangible capital and the investment-q relation (2016)The impact of environmental, social, and governance disclosure on firm value: The role of CEO power (2017)Liquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)Market Efficiency, Long-Term Returns, and Behavioral Finance (1997)Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation (2000)Replicating Anomalies (2018)
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References

  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 2008Market Liquidity and Funding Liquidity5,007 cited
  • 2000The information content of stock markets: why do emerging markets have synchronous stock price movements?3,332 cited
  • 1999Do Investors Trade Too Much?2,245 cited
  • 2002Differences of Opinion and the Cross Section of Stock Returns2,145 cited
  • 2009Investor Inattention and Friday Earnings Announcements1,740 cited
  • 1996Liquidity, Information, and Infrequently Traded Stocks1,591 cited
  • 1999Herding and Feedback Trading by Institutional and Individual Investors1,587 cited
  • 2006Price Informativeness and Investment Sensitivity to Stock Price1,492 cited
  • 1996Momentum Strategies1,275 cited
  • 1997The Components of the Bid-Ask Spread: A General Approach1,145 cited
  • 2003Voting with their feet: institutional ownership changes around forced CEO turnover1,009 cited
  • 2005Momentum and post-earnings-announcement drift anomalies: The role of liquidity risk1,008 cited
  • 2012The Real Effects of Financial Markets899 cited
  • 2019Size and value in China866 cited

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Momentum, Business Cycle, and Time‐varying Expected Returns
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