教師資料查詢 | 類別: 期刊論文 | 教師: 倪衍森 NI, YEN-SEN (瀏覽個人網頁)

標題:Board_structure, considerable capital, and stock price overreaction informativeness in terms of technical indicators
學年106
學期2
出版(發表)日期2018/07/18
作品名稱Board_structure, considerable capital, and stock price overreaction informativeness in terms of technical indicators
作品名稱(其他語言)
著者Yensen Ni; Paoyu Huang; Yuhsin Chen
單位
出版者
著錄名稱、卷期、頁數North American Journal of Economics and Finance (Article in Press)
摘要Stock price overreaction can be measured by technical trading indicators. For example, overreaction zones can be measured by relative strength index (RSI). In this study, we propose two new proxies for share price informativeness, namely, days of overbought (DOB) and days of oversold (DOS). DOB and DOS are defined, respectively, as the number of days falling into the RSI-defined overbought and oversold zones over the total number of trading days in a year. DOS is the number of days falling into the oversold zone over the total number of trading days in a year. We then investigate if these proxies are affected by financial performance and board structure. Results reveal that the top 10 shareholders who are not directors may enhance the DOB instead of the DOS. As a result, share prices may increase. This situation may induce investors to pursue stocks at high prices, whereas institutional investors may decrease their shareholdings as share prices fall into the overbought zones. These notable findings, which were previously undisclosed, could augment the existing literature.
關鍵字Board structure;Stock price informativeness;Considerable capital;Relative strength index
語言英文(美國)
ISSN
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別美國
公開徵稿
出版型式,電子版
相關連結
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