A Study on the Informed Trading and Market Manipulation under the Asymmetric Information;
非对称信息下的知情交易与市场操纵研究
Then this paper models the measurement of probability of informed trading in an order-driven stock market of China on the basis of stock transaction data.
根据知情交易者和未知情交易者行为,构建了交易者序贯交易过程。
Based on the model of EKOP,this paper estimates the probability of informed trading(PIN) in Shanghai stock market,describes the feature of PIN,and tests the risk pricing capability of PIN.
本文以EKOP模型为基础,研究了沪市股票知情交易概率的特征,并检验了知情交易概率的风险定价能力。
Supposing the traders could be classified as three types—liquidity traders,informed traders and uninformed traders,this paper presented a model on the order-driven market.
假设交易者可以分为流动性交易者、知情交易者和不知情交易者三类,则可以针对指令驱动市场建立模型:流动性交易者的最优指令决定于他对股票价值的估计、股票的即时价格和流动性;在私有信息传播过程中,知情交易者因为竞争要提交指令尽快成交;不知情交易者可以通过分析指令簿和指令成交记录来猜测私有信息的价值。
This paper studied the trading strategy of an informed trader to maximize his final wealth under the condition of trading fee and interest rate.
研究了在交易费用和利率的条件下,知情交易者为获取最大期末财富所采取的指令提交策略。
There are two kinds of investors in the market,informed traders and uninformed traders.
市场上有知情交易者和不知情交易者两类投资者,研究发现:货币供给对知情交易者影响很小,但是货币供给对不知情交易者的影响很大。
Strategic Interaction between Informed and Uninformed Traders;
知情交易者和不知情交易者的策略互动
A Model of Strategic Trading when Order Flow is Disaggregated;
包含多个知情交易者的可甄别交易流模型研究
Strategic Trading When Some Investors Receive Partly Information;
考虑不完全知情交易者的交易策略分析
Intraday Features of the Dynamic Relationship between Informed Trading Probability and Trading Activity
知情交易概率和交易活跃程度的日内动态关系
Intertrade Duration and Information-Based on an Electronic Order-Driven Market;
电子指令驱动市场上的交易持续期与知情交易的相互关系研究
An Empirical Study of Informed Trading and Price Discovery on China Stock Market;
中国股票市场知情交易与价格发现的实证研究
A Study on the Informed Trading and Market Manipulation under the Asymmetric Information;
非对称信息下的知情交易与市场操纵研究
The Feature of Probability of Informed Trading and Risk Pricing in Shanghai Stock Market;
沪市知情交易概率(PIN)特征与风险定价能力
Informed Trading and Market Manipulation Under Information Asymmetry;
信息不对称条件下的知情交易与市场操纵研究
So, the informed trading may cause certain degree of the market manipulation behavior.
因此,知情交易可能会引起某种程度的市场操纵行为。
An Empirical Study on the Level and the Nature of Information-based Trading in Chinese Stock Market;
关于我国股市知情交易水平及其性质的实证研究
Shareholder s Information Right in Affiliated Transaction of the Listed Company;
论上市公司关联交易中的股东知情权
Persons in the know also revealed some malpractices at the fair.
知情人披露了一些交易会上的不正之风。
The Probability of Informed Trading in Different Informed Traders and Noise Issue
不同类型知情者信息性交易概率及噪声问题
Prosperity make friend, and adversity tires them.
富贵易交友,患难见交情。
Article67 Insiders of securities trading inside information shall be prohibited from carrying out securities trading operations by taking advantage of the inside information.
第六十七条禁止证券交易内幕信息的知情人员利用内幕信息进行证券交易活动。
Institutional Investor,Informed Trading and Market Efficiency:Evidence from China s Capital Market;
机构投资者、知情人交易和市场效率——来自中国资本市场的实证证据
He is on the inside of that deal.
他知道那笔交易的内幕。
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