Loading...
Please wait, while we are loading the content...
Similar Documents
Speculative trading and stock prices evidence from Chinese A-B share premia
| Content Provider | Library of Congress - Books/Printed Material |
|---|---|
| Author | Mei, Jianping Scheinkman, JoseĢ Alexandre |
| Spatial Coverage | China |
| Temporal Coverage | 2005 |
| Copyright Year | 2005 |
| Abstract | "The market dynamics of technology stocks in the late nineties has stimulated a growing body of theories that analyze the joint effects of short-sales constraints and heterogeneous beliefs on stock prices and trading volume. This paper examines implications of these theories using a unique data sample from China, a market with stringent short-sales constraints and perfectly segmented dual-class shares. The identical rights of the dual-class shares allow us to control for stock fundamentals. We find that trading caused by investors' speculative motive can help explain a significant fraction of the price difference between the dual-class shares"--National Bureau of Economic Research web site. |
| Language | English |
| Publisher | National Bureau of Economic Research |
| Publisher Place | Cambridge, MA |
| Part of Series | Catalog |
| Requires | HTML5 supported browser |
| Access Restriction | Open |
| Subject Keyword | China Prices Speculation Stocks |
| Subject Domain (in LCSH) | Speculation--China |
| Subject Domain (in LCSH) | Stocks--Prices--China |
| Subject Domain (in LCC) | HB1 |
| Content Type | Text |
| Resource Type | Book |
