Essays about: "h-shares"
Showing result 1 - 5 of 7 essays containing the word h-shares.
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1. Does Noise Trader Risk Repel Arbitrageurs? Evidence from Chinese A-H Share Premia
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : What causes the Chinese A-H share premia puzzle? A-shares enjoy a premium over corresponding H-shares on average by 125%, despite the same rights and dividends. The existing hypotheses such as differential risk, differential demand, liquidity, and asymmetric information cannot successfully account for the great magnitude of inflated A-share prices and are also inconsistent with our sample from 2014-2019. READ MORE
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2. Underpricing in China Stock Market: An Investigation of A and H Share
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : Underpricing of initial public offerings is a very pervasive phenomenon in stock markets all over the world. A and H shares are common stocks with same voting and dividend rights issued by companies incorporate and operate in Mainland China. READ MORE
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3. Financial information relevance with stock return and return disparity study: case for China A-H dual-listed companies
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : The relationship between stock return and company financials information as a key component of investment decision making has its highly practical implications for equity market investors. This paper narrows down the scope to examine how this relationship looks like for dual-listing companies in China s developing capital market, more specifically between return or return disparity and two price ratios, earnings to price and book value to price ratio. READ MORE
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4. Ownership restriction and stock price: Empirical study from Chinese stock market
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : Market segmentation and restrictions on investment options lead to different required return by different groups of investors and thus result in different pricing of shares that are for domestic investors only and shares that are available to foreign investors even when the two types of shares have same rights on dividends and control over the company. Normally the domestic-only shares trade at a discount compared to their corresponding shares available to foreigners however the A shares and H shares in the Chinese stock market shows an opposite pattern. READ MORE
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5. Modeling Price Differentials between A Shares and H Shares on the Chinese Stock Market
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : In this paper, we model the price differentials between A shares and H shares in the Chinese stock markets with both macroeconomic factors and firm specific factors, which successfully explain the A share price premium. Discounts of H-share prices relative to A-share prices are related to the contemporaneous movements of the H-share local market index relative to the A-share local market index, the spread of interest rates and inflation rates between Hong Kong and mainland China as well as firm size, liquidity and volatility of the stock. READ MORE
