Two Essays On Chinas Stock Markets
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Two Essays on China's Stock Markets
Author | : Zhiguo Wu (Ph. D.) |
Publisher | : |
Total Pages | : 118 |
Release | : 2012 |
Genre | : Investments |
ISBN | : |
Two Essays on Chinese Stock Market
Author | : Kam Hong Kwok |
Publisher | : |
Total Pages | : 238 |
Release | : 2003 |
Genre | : Market segmentation |
ISBN | : |
Three Essays on Mainland China's Stock Market Performance
Author | : Han Zhou |
Publisher | : |
Total Pages | : 0 |
Release | : 2018 |
Genre | : |
ISBN | : |
The thesis consists of three essays that examine empirical factors important for explaining the performance of the mainland China stock market. The first chapter discusses whether other stock market performances could explain the mainland China stock market performance within the framework of greater China. This chapter provides empirical evidence of the non-existence of stable cointegrating relationships among the mainland China, Hong Kong and Taiwan stock markets. The empirical results of short-run spillover effects on both first and second moments indicate that mainland China stock markets serve as an information generator, the Taiwan stock market serves as an information receptor and the Hong Kong stock market functions as both an information generator and receptor. The second chapter empirically studies the linkages between mainland China monetary policies and stock market performance by employing event study and SVAR methods. The empirical results indicate that first, monetary policy announcements concerning benchmark interest rates and required reserve ratio adjustments have effects on stock market volatility; second, a positive monetary policy shock in mainland China could decrease stock prices in the short run, and the effect of the policy trends slightly towards 0; third, a positive stock price shock could have a positive effect on interbank rates; and fourth, this effect has an increasing trend followed by a decreasing trend. The third chapter provides empirical evidence that an increase in institutional ownership can increase stock return volatility. The chapter first confirms that an increase in institutional ownership of one listed firm increases that firm's stock return volatility. Second, the chapter provides evidence that the marginal effect of institutional ownership on the volatility of one firm-level stock return decreases with an increase in institutional ownership and that this effect becomes negative when institutional ownership exceeds a certain threshold of approximately 28%. Additionally, we observe that an increase in institutional ownership can decrease stock return synchronicity.
Three Essays on the Chinese and International Stock Markets
Author | : Jasmine Jie Chen |
Publisher | : |
Total Pages | : 248 |
Release | : 2005 |
Genre | : Business enterprises |
ISBN | : |
Two Essays on Lead-lag Patterns Between Trading Volume and Stock Return in China Stock Markets
Author | : Xiaotian Zhu |
Publisher | : |
Total Pages | : 190 |
Release | : 2007 |
Genre | : Stock exchanges |
ISBN | : |
The Efficiency of China's Stock Market
Author | : Shiguang Ma |
Publisher | : Ashgate Publishing, Ltd. |
Total Pages | : 312 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : |
By investigating the efficiency of China's Stock Market in accordance with the theoretical framework of the Efficient Market Hypothesis, this book focuses on weak form and semi-strong form market efficiency. In addition The Efficiency of China's Stock Market provides a comparative analysis between China's Stock Market and other countries' stock markets.