%0 Journal Article
%T Private Information ,Fluctuation Risk and Large A-Shareholders''S elective Selling<br>信息优势、波动风险与大股东的选择性减持行为
%A Zhu Chafen
%A Chen Chao
%A Jevons Lee
%A <br>朱茶芬
%A 陈超
%A 李志文
%J 浙江大学学报(人文社会科学版)
%D 2010
%I 
%X This study investigates the large A-shareholders' selling behavior using the disclosed trading data before February 29,2008.We find that large shareholders make use of private information about company's fundamental value and future performance in their selling decision.The companies which have higher valuation,worse prospect and larger price fluctuation risk will be sold more aggressively by large shareholders.By analyzing the selling quantity,we find that large sales are mainly made due to valuation and p...
%K insider sales
%K share structure reform
%K insider trading<br>减持
%K 股权分置改革
%K 内部人交易
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1924CB483152CA50D4FC5BD3CBB47B847F&cid=585D04A2453D8AD5DDFFE8BE5B16E24C&jid=D60DCFE5A8F7BD187924CADC70161E70&aid=F4D3596103151278244E2EC892F5FC7E&yid=140ECF96957D60B2&vid=1371F55DA51B6E64&iid=0B39A22176CE99FB&sid=F260CE035846B3B8&eid=DABEF202280E7EF1&journal_id=1008-942X&journal_name=浙江大学学报(人文社会科学版)&referenced_num=1&reference_num=22