Purpose: The purpose of this paper is to investigate if earnings management affects the trades of different investors prior to earnings announcements. Design/methodology/approach: Using a unique account-level trading data set from the Chinese stock market, the author investigates the different...

Purpose – The purpose of this paper is to explore the relations of investment and stock prices (Tobin‐Q), the impact of asymmetric information on the investment sensitivity to stock price, and the impact of asymmetric information on the stock price sensitivity to investment....

Purpose–The purpose of this paper is to explore the relations of investment and stock prices (Tobin-Q), the impact of asymmetric information on the investment sensitivity to stock price, and the impact of asymmetric information on the stock price sensitivity to investment....