Proceedings of the Third International Conference on Economic and Business Management (FEBM 2018)

Institutional Investors' Shareholding Ratio and Stock Return Volatility: Empirical Findings from the a Share Market

Authors
Qian Yu, Tao Li
Corresponding Author
Qian Yu
Available Online December 2018.
DOI
https://doi.org/10.2991/febm-18.2018.35How to use a DOI?
Keywords
Institutional investors; Stock return volatility; The split share structure reform; The two-stage least square method
Abstract

This paper uses the non-balanced panel data of A-share listed companies from 2001 to 2017 to conduct an empirical study on the relationship between the shareholding ratio of institutional investors and stock return volatility before and after the split share structure reform . It is found that after the reform , institutional investors stabilize stock return volatility in companies with a high proportion of institutional investors when other conditions are controlled . And companies with a low proportion of institutional investors, institutional investor’s shareholding ratio is negatively correlated with stock return volatility. Before the reform and during the reform, companies with a high proportion of institutional investors, institutional investor’s shareholding ratio is negatively related to the stock return volatility .Companies with a low proportion of institutional investors,the relationship is not obvious. In this paper, the two-stage least square method is used for further analysis. After eliminating the endogenous of the shareholding ratio of institutional investors and stock return volatility, the conclusion validates the conclusion of this paper.

Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Third International Conference on Economic and Business Management (FEBM 2018)
Series
Advances in Economics, Business and Management Research
Publication Date
December 2018
ISBN
978-94-6252-623-5
ISSN
2352-5428
DOI
https://doi.org/10.2991/febm-18.2018.35How to use a DOI?
Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Qian Yu
AU  - Tao Li
PY  - 2018/12
DA  - 2018/12
TI  - Institutional Investors' Shareholding Ratio and Stock Return Volatility: Empirical Findings from the a Share Market
BT  - Proceedings of the Third International Conference on Economic and Business Management (FEBM 2018)
PB  - Atlantis Press
SP  - 148
EP  - 151
SN  - 2352-5428
UR  - https://doi.org/10.2991/febm-18.2018.35
DO  - https://doi.org/10.2991/febm-18.2018.35
ID  - Yu2018/12
ER  -