The Stock Price Abnormal Volatility, Short-term Manipulation And Market Regulation

More and more countries have enhanced supervising of stock manipulation and insider trading in the stock market. Discussion on the stock manipulation is a hot point about the forward position of financial research and practice. The paper gives a detailed and comprehensive analysis mainly in three aspects of its theory, principal model and empirical evidence. Using the methods of Data Mining and establishing the Logistic regression, abnormal return model, a general statistic sample of stock price manipulation cases are analyzed. The market reaction characteristics such as return rate, Garch volatility is studied, and show that the return rate and turn over rate are higher during the manipulation period, and there are significant difference between the premanipulation period and the postmanipulation period. The inner causes of stock manipulation are analyzed. On the basis of these, how to learn from the international theory of market manipulation and improve it to be suited to China's national condition is discussed. In the end, the related suggestions are given for monitoring, and its prospects for the future development and focal research point are put forward.