|
主讲人 |
阚铄 博士 |
简介 |
<p><span lang="EN-US" style="font-size:10.5pt;mso-bidi-font-size:11.0pt;font-family:"Times New Roman",serif;mso-fareast-font-family:宋体;mso-fareast-theme-font:minor-fareast;mso-ansi-language:EN-US;mso-fareast-language:ZH-CN;mso-bidi-language:AR-SA">Abstract: We investigate the link between stock return synchronicity and price informativeness by exploiting the Regulation SHO pilot program, which removed short-selling price tests for randomly-selected stocks (“pilot stocks”) in May 2005, before removing such tests for all stocks in July 2007. A difference-in-differences analysis shows that relative to non-pilot stocks, pilot stocks saw a significantly larger increase in return synchronicity when the pilot program started, but such difference disappeared when Regulation SHO removed short-selling price tests for all stocks. The results suggest that high return synchronicity reflects high, rather than low, price informativeness.</span></p> |
|
主讲人简介 |
<p><span style="font-size: 10.5pt; font-family: 宋体;">阚铄现为中国人民大学财政金融学院博士生，研究方向为实证公司金融，研究课题包括董事特征、分析师行为、动态资本结构等。于</span><span lang="EN-US" style="font-size: 10.5pt; font-family: 'Times New Roman', serif;">2015</span><span style="font-size: 10.5pt; font-family: 宋体;">年和</span><span lang="EN-US" style="font-size: 10.5pt; font-family: 'Times New Roman', serif;">2016</span><span style="font-size: 10.5pt; font-family: 宋体;">年分别前往香港理工大学和美国南加州大学进行学术访问。已在国内一流学术期刊《世界经济》、《管理世界》和《金融研究》发表论文五篇，并有多篇论文在</span><i><span lang="EN-US" style="font-size:10.5pt;mso-bidi-font-size:11.0pt;font-family:"Times New Roman",serif;mso-fareast-font-family:宋体;mso-fareast-theme-font:minor-fareast;mso-ansi-language:EN-US;mso-fareast-language:ZH-CN;mso-bidi-language:AR-SA">International Review of Finance</span></i><span style="font-size: 10.5pt; font-family: 宋体;">和《经济研究》等期刊接受审稿。</span></p> |
期数 |
|
