| Block trading is a special transaction mode. It is a supplement to the traditional securities market trading. The block trading comes to the world because of the continuous development of the securities market and with the increment in mergers market. Institutional traders accounted for the higher than gradually in the trading market more and the traditional trading mode influence on institutional traders cost is also more and more big, the birth of block trading mechanism adapted to the demand of the market.At present domestic research in block trading mainly focus on the transaction system and the liquidity discount and other problems. The research of the investment opportunities from block trading under special circumstances is not so much. The focus of this study is to find alpha returns for investors by the analysis of the stock market performance in the premium block trading after a period of time. Through the analysis of a large amount of data to summarize several important factors which influence the investment decision, including the premium rate of trading volume and investment of time. |
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