Author(s)

Shuwei Li, Chao Xiang

Corresponding Author

Shuwei Li

Abstract

The National Social Security Fund (hereinafter referred to as the Social Security Fund) is a long-term fund for the A-share market. The Social Security Fund uses value investment, long-term investment, and responsible investment as its investment philosophy. It is based on the principles of safety, profitability and liquidity. The excellent investment performance and the special nature of its funds are regarded by many investors as an investment vane. This paper conducts an empirical study on the short-term impact of the national social security fund's increase and decrease of warehouse investment operations on the stock market. It aims to explore whether the social security fund has the role of market investment vane in the short term by processing the A-share market transaction data.

Keywords

National social security fund, Masukura operation, Lightening operation, Quote change