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Impact Of Institutional Investor Shareholding On Stock Price Volatility

Posted on:2023-03-06Degree:MasterType:Thesis
Country:ChinaCandidate:K L WangFull Text:PDF
GTID:2569306629967879Subject:Financial master
Abstract/Summary:PDF Full Text Request
With the continuous adjustment of the structure of market investors,institutional investors have gradually become the main force of the market.Its number,scale and type have undergone great changes.There has been debate whether the development of institutional investors stabilize the stock market.Therefore,the study of the impact of institutional investors’ shareholding on stock price volatility is conducive to the deepening of the concept of long-term value investment of institutional investors and the implementation of government supervision.Promote the health of the Chinese stock market stable development for a long time.Based on the empirical study of the listed companies from 2015 to 2020,this paper analyzes the impact of institutional investors’ shareholding behavior on stock price volatility.Through regression analysis,the following conclusions are drawn:Institutional investors’ shareholding and shareholding changes will aggravate stock price volatility.Information transparency plays a moderating role between Institutional investors’shareholding and stock price volatility,and the increase in information transparency of enterprises can reduce the impact of Institutional investors’ shareholding on stock price volatility,thereby enhancing the stability of stock price.Independent Institutional investors’shareholding will aggravate stock price volatility,while non-independent Institutional investors’ shareholding will inhibit stock price volatility.Compared with the period of low sentiment of investors,the impact of Institutional investors’ shareholding on stock price volatility is more obvious in the period of high sentiment of investors.Based on this,this paper puts forward the following suggestions:Guide institutional investors to focus on long-term interests and establish the concept of value investment.Vigorously develop non-independent institutional investors and focus on differentiated regulation.Improve the transparency of capital market information.Improve and perfect the evaluation system for institutional investors.
Keywords/Search Tags:institutional investors, stock price volatility, information transparency, value investment
PDF Full Text Request
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