{"title":"The impact of foreign institutional investors on the information content of Chinese stock prices","authors":"Jun Xie , Meixia Yu , Bin Gao","doi":"10.1016/j.iref.2024.103592","DOIUrl":null,"url":null,"abstract":"<div><p>This paper examines the impact of foreign institutional investors on the information content of stock prices in China's capital market. Using A-share listed companies in Shanghai and Shenzhen from 2005 to 2021 as the research sample, the study finds that institutional investors play a “leading role” in increasing the information content of the market in both the short and long term. Furthermore, the information content of domestic and foreign institutional investors is complementary, with foreign institutional investors more effective in promoting the increase of information content in the Chinese stock market than their domestic counterparts. These findings provide new empirical evidence on how to enhance the effectiveness of China's stock market by further opening to foreign institutional investors and increasing the price information content.</p></div>","PeriodicalId":4,"journal":{"name":"ACS Applied Energy Materials","volume":null,"pages":null},"PeriodicalIF":5.4000,"publicationDate":"2024-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1059056024005847/pdfft?md5=fbacfda15517aab8c456576e53bb326e&pid=1-s2.0-S1059056024005847-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ACS Applied Energy Materials","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024005847","RegionNum":3,"RegionCategory":"材料科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"CHEMISTRY, PHYSICAL","Score":null,"Total":0}
引用次数: 0
Abstract
This paper examines the impact of foreign institutional investors on the information content of stock prices in China's capital market. Using A-share listed companies in Shanghai and Shenzhen from 2005 to 2021 as the research sample, the study finds that institutional investors play a “leading role” in increasing the information content of the market in both the short and long term. Furthermore, the information content of domestic and foreign institutional investors is complementary, with foreign institutional investors more effective in promoting the increase of information content in the Chinese stock market than their domestic counterparts. These findings provide new empirical evidence on how to enhance the effectiveness of China's stock market by further opening to foreign institutional investors and increasing the price information content.
期刊介绍：
ACS Applied Energy Materials is an interdisciplinary journal publishing original research covering all aspects of materials, engineering, chemistry, physics and biology relevant to energy conversion and storage. The journal is devoted to reports of new and original experimental and theoretical research of an applied nature that integrate knowledge in the areas of materials, engineering, physics, bioscience, and chemistry into important energy applications.
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