Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Advances in Economics, Management and Political Sciences

Series Vol. 1 , 26 April 2021


Open Access | Article

The research on the effect on stock price of executives' selling behavior in Chinese GEM

Xiao Ma * 1
1 Guanghua School of Management, Peking University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 1, 1-8
Published 26 April 2021. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Xiao Ma. The research on the effect on stock price of executives' selling behavior in Chinese GEM. AEMPS (2021) Vol. 1: 1-8. DOI: 10.54254/2754-1169/1/AEMPS_001.

Abstract

This paper empirically analyzes the impact of executives' reduction on stock price by taking the listed companies on Chinese GEM as research samples. The results show that the behavior of senior executives reducing their holdings will significantly reduce the stock price, and the effect changes in an inverted U-shape with the proportion of stocks reduced. Further research shows that for the companies with higher earnings per share and absolute price, the behavior of executives reducing their stock holdings will do more harm to the stock price.

Keywords

stock price, Chinese GEM, listed companies, executives' selling behavior

References

1. Aboody D. ,Hughes J. and Liu J, 2005, Earnings Quality, Insider Trading,and Cost of Capital[J]. Journal of Account- ing Research,43: 651 - 673.

2. Cheuk, M. Y., Fan, D. K., and So, R. W., 2006, Insider trading in Hong Kong: Some stylized facts [J]. Pacific-Basin Finance Journal, 14(1): 73-90.

3. Bhagat, S., and Black, B., 1999, The uncertain relationship between board composition and firm performance [J]. The Business Lawyer, 921-963

4. Xiaoqiu Wu.2011. China's growth enterprise market: current situation and future.Finance&trade economics.5-13

5. Hui Xu.2002. A Study On The Growth Enterprise Market In China[D] Shaanxi Normal University..1-2

6. Xupeng Wu.2013. An empirical study on the impact of the reduction of important shareholders in gem on stock price. Shanghai Jiao Tong University for the Master's Degree.12-24

7. Zhenbin Liu.2012. A study on the market effect of the increase and decrease of senior executives' shares in China's listed companies. [D]. Southwestern University Of Finance And Economics,17-19

8. Yuhuan Zhao,Ziying Ye .2012. An empirical study on the impact of gem executives' reduction on the stock market [J]. Foreign Economic Relations & Trade..99-110

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Advances in Economics, Management and Political Sciences, Vol. 1
ISBN (Print)
ISBN (Online)
Published Date
26 April 2021
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/1/AEMPS_001
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated