Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/48914
Title: Studies on China's segmented stock markets
Authors: KONG JING
Keywords: Market segmentation; Regulatory events; Dual listings
Issue Date: 12-Feb-2007
Source: KONG JING (2007-02-12). Studies on China's segmented stock markets. ScholarBank@NUS Repository.
Abstract: This thesis studies two topics relatively unexplored on Chinaa??s segmented A and B-share markets. One topic is regarding reaction to regulatory changes and policy adjustments. I find some asymmetric market responses to certain categories of regulatory events in the segmented A and B-share markets and a stronger spillover effect of regulatory impacts from the A-share markets to the B-share markets. The overall results indicate that foreign B-share investors are more sensitive to the regulatory changes and have some information advantages. Another topic addresses the impacts of Chinaa??s domestic dual listings on valuation and liquidity. I uncover utterly different responses in the A and B-share markets. After dual listings on the B-share markets, the corresponding A-share prices decrease persistently while upon A-share dual listing announcements the corresponding B-share prices increase statistically significantly but transiently. Liquidity effects are also found to be different, negative for existing A-shares but positive for existing B-shares.
URI: http://scholarbank.nus.edu.sg/handle/10635/48914
Appears in Collections:Ph.D Theses (Open)

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
Kong Jing PhD Economics Studies on Chinas segmented stock markets 2005.pdf1.12 MBAdobe PDF

OPEN

NoneView/Download

Page view(s)

70
checked on Dec 11, 2017

Download(s)

40
checked on Dec 11, 2017

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.