Tan, Yan; Zhang, Wenting; Kong, Xiangting - In: China journal of accounting research : CJAR 16 (2023) 3, pp. 1-26
, showing clear signs of manipulation. These results are robust to several endogeneity tests. The probability of manipulation … manipulation via rumor, while transactions made by directors, supervisors, or senior executives (but not their relatives) have a … significantly lower probability of manipulation via rumor. Further examination shows that using rumor to manipulate the market …