E3S Web Conf.
Volume 292, 20212021 2nd International Conference on New Energy Technology and Industrial Development (NETID 2021)
|Number of page(s)
|New Energy Economy and Energy Blockchain Application
|09 September 2021
The Impact of Margin and Short Selling on Stock Pricing Efficiency – Based on the Growth Enterprise Market and the Science and Technology Innovation Board
Shanghai University, Economics of School, China
* Corresponding author: email@example.com
This paper takes the margin and short selling targets of the science and technology innovation board and the growth enterprise board of China’s stock market as the research object, and selects the sample interval from July 2019 to November 2020, Uses the unbalanced data panel model, discusses the effect of short selling and margin trading on the pricing efficiency of stock from the perspectives of the reaction speed and information content of stock information. The results show that margin trading is generally beneficial to the improvement of the pricing efficiency of the stock market; the effect of margin trading and short selling on the improvement of pricing efficiency of different stocks is different. The imbalance of power between margin trading and margin trading has a negative impact on the pricing efficiency of the stock market. The conclusion is helpful for subsequent scholars to continue to study the development level of the securities market and provide suggestions for the development direction of China’s securities market.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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