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Volume Shocks around Announcements in the Chinese Stock Market: An Ex-Post Earnings-Information-Based Study of Speculative Behavior

Xiangdong Chen, Fei Wang, Wei Wang, Valerie Hunstock
2017 Information  

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The Second Board Market is typical stock market for high tech companies in China. This paper discusses the relationship between trading volume and price changes in the case of high-tech listed companies in the Chinese Second-Board Stock Market. By using the basic concepts proposed by Kim and Verrecchia, and Kandel and Pearson, and contrasting them with ex-post information from earnings releases, the paper provides findings on the speculative behavior of informed traders with a volume shock
more » ... um. The paper suggests that these methods may be further applied to investigating investors' behavior in speculation, especially for the high-tech-company-based Second-Board Stock Market during announcement periods.
doi:10.3390/info8030112 fatcat:wqho6txyrnfa3a3ispgpyuaxsa
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Xiangdong Chen, Fei Wang, Wei Wang, Valerie Hunstock. "Volume Shocks around Announcements in the Chinese Stock Market: An Ex-Post Earnings-Information-Based Study of Speculative Behavior." Information 8.3 (2017) 112