QFII and Major Domestic Institutional Investors: Who are Performing

Abstract

Abstract: With the gradual opening of China′s financial market, the number and scale of institutional investors at home and abroad are increasing. Based on the perspective of financial liberalization, this paper examines the relationship between institutional investors ′market transactions and stock market pricing efficiency at home and abroad. The results show that foreign institutional investors can promote stock market pricing efficiency,domestic institutional investors have some heterogeneous characteristics on stock market pricing efficiency,and foreign institutional investors can raise price efficiency through the technology spillover effect of pricing efficiency.

Key words: financial liberalization, price lag, QFIII, institutional investors

SUN Xian-chao1, ZHAO Xiao-lei2，PAN Zhi-yuan3. QFII and Major Domestic Institutional Investors: Who are Performing [J]. 商业研究.

References

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