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ABSTRACT：WeexaminethestockpriceimpactofcorporatesitevisitsusingauniquedatasetofsitevisitstolistedfirmsinChina.Ourmainfindingsareasfollows.First,themarketreactionaroundcorporatesitevisitsisstatisticallyandeconomicallysignificantandisstrongerforgroupvisits,visitsconductedbymutualfundmanagers,visitscoveringaccountingandfinancetopics,visitstofirmswithpoorinformationenvironments,andvisitstomanufacturingfirms.Second,thestockreturnsaroundsitevisitsarepositivelyassociatedwithfirms’futureperformance.Third,thechangesinvisitingfunds’holdingsaremorepredictiveoffirms’futureperformancethanthoseofnonvisitingfunds.Overall,thisstudycontributestotheliteraturebyprovidingevidencethatsitevisitsareimportantvenuesforinvestorstocollectinformationaboutfirmsandmakeinformedtrades.
