Financial Report Similarity and Managerial Stock Sales in Technology Enterprises: Empirical Evidence from Beijing

This study delves into the connection between similarity of Management Discussion and Analysis (MD&A) texts managerial opportunistic stock sales in technology-oriented listed companies Beijing from 2001 to 2022. The findings reveal that higher MD&A Beijing's technology is associated with an increased likelihood sales. research contributes mitigating financial risks capital market provides valuable empirical evidence support government efforts fostering high-quality development enterprises.