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近年来我国上市公司高管买卖股票的行为日益频繁,而且低位买进、高位卖出现象非常突出。据不完全统计,2006～2009年间,在上交所上市的公司高管、董事、监事在二级市场共减持股份1145万股,增持股份296万股。这些人员进行股票操作的一个普遍特点在于其股票抛售时间的选择往往相当准确,失误率很低。然而事实上,在这为数众多的上市公司高管股票操作中,有很大一部分属于违规情形。鉴于此,笔者认
In recent years, the executives of our country listed companies buy and sell shares more and more frequently, and buy low, high sell very prominent. According to incomplete statistics, between 2006 and 2009, the top executives, directors and supervisors listed on the Shanghai Stock Exchange reduced the total shares of 11.45 million shares and 296 shares in the secondary market. A common feature of these people in their stock operations is that the timing of their stock sell-off tends to be fairly accurate and the error rate is low. However, in fact, a large part of the executives’ stock operations in this large number of listed companies belong to the irregularities. In view of this, I think