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Price Limits on Daily Price Fluctuation driven by new information or by price manipulation?

机译:由新信息或价格操纵驱动的每日价格波动的价格限制?

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摘要

The paper classified two causes make the stock price to the up-limit broad. They are new information or price manipulation. Utilizing the high frequency stock data, we statistically analyzes various factors impact the second day’s stock price return after the stock up to the limit broad. We empirically verify the stock price’s different behaviors respectively caused by new information or price manipulation. According to our conclusion, we propose advises to improve Chinese Stock Price Limit System.
机译:本文归纳出两个原因使股价上涨至上限。它们是新信息或价格操纵。利用高频股票数据,我们统计分析了影响股票达到上限后的第二天股价回报的各种因素。我们凭经验验证了分别由新信息或价格操纵导致的股票价格不同行为。根据我们的结论,我们建议建议完善中国股票价格限制制度。

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