Download or read book Structural Changes in Chinese Stock Market written by Jiajia Fu and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's stock market has gone through major structural changes since its inception in early 1990s. In this survey article, we review the empirical literature that document these important structural changes and published in 15 leading accounting and finance journals from 1998 to 2013. In analyzing this literature we focus on the 'distinctiveness' of Chinese stock market compared with developed stock markets (e.g., U.S) and the research opportunities generated by the China setting. Key themes include China's share issue privatization reforms, the political connections in private owned companies, characteristics of Chinese listed companies and their governance, the regulatory environment reforms in China, and the evolving role played by auditors and other information intermediaries.
Download or read book The Evolution of the Stock Market in China s Transitional Economy written by Jianxun Chen and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The book The Evolution of the Stock Market in China's Transitional Economy by Chien-Hsun Chen and Hui-Tzu Shih offers valuable insights into the evolution and development of the Chinese stock market. The book was written with an important mission in mind - how to develop an efficient financial system that facilitates innovation and spontaneous evolution of the society.' - Guojun Wu, Journal of Asian Business 'Chien-Hsun Chen and Hui-Tzu Shih have produced an informative and insightful study of China's stock market development. In The Evolution of the Stock Market in China's Transitional Economy, the reader will find a straightforward account of the development of China's stock markets that further clarifies the role China's capital markets will play in the country's financial future.' - Mark T. Fung, The China Business Review The establishment of the Shanghai Stock Exchange in December 1990 was a landmark in China's institutional transformation. With this in mind, the authors consider the factors relating to institutional change - such as changes in the financial system, the scale and structure of stock market, operational efficiency and the regulatory system of the stock market. During the course of its development the Chinese stock market has experienced speculation, dramatic fluctuations and violations of market regulations of frequent and diverse natures. There is therefore, urgent need for the discussion contained within this volume of best procedure policies for the establishment of a properly ordered and regulated market. The authors assess the operational performance of listed companies, and changes in the external environment such as the impact of China's accession to the WTO on the stock market. The authors find that WTO accession will have a more serious impact on the more heavily protected agricultural sector and on capital-intensive industries such as automobile, instruments, cotton and wheat to name a few. They argue that the fundamental reason for the inefficiency of China's stock market is the weakness of the competitive mechanism leading to imperfect competition and rent-seeking activity. This book will be of great interest to academics and researchers of Asian studies and money and finance. Multinational enterprise managers, as well as brokers, dealers, business economists and others involved in the global financial markets will also find this book of value.
Download or read book Do Macroeconomic Structural Changes Occur in China s Stock Markets written by Jen Sin Lee and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book To Get Rich is Glorious written by C. Walter and published by Springer. This book was released on 2001-05-14 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: From village collectives in Southern China in the early 80s to the summer 1999 share rally, To Get Rich is Glorious provides a guide to twenty years of China's stock markets. The book analyses the changes that have occurred in all areas of China's securities business including legal, regulatory, share structure, issuers, investor base and market performance. Topics are placed in the context of the industry's overall development to highlight the market's current situation as China enters the new century.
Download or read book How China Grows written by James Riedel and published by Princeton University Press. This book was released on 2023-06-06 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why investment and financial reform are essential to China's continued economic well-being Although China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular—whether economists, political scientists, bankers, or business people.
Download or read book Demystifying China s Stock Market written by Eric Girardin and published by Springer Nature. This book was released on 2019-09-13 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream research has rationalized China’s stock market on the basis of paradigms such as the institutional approach, the efficient market hypothesis, and corporate valuation principles. The deviations from such paradigms have been analyzed as puzzles of China’s stock market. Girardin and Liu explore to what extent, in the perspective of Chinese cultural and historical characteristics, far from being puzzles, these 'deviations’ are rather the symptoms of a consistent strategy for the design, development and regulation of a government-dominated financial system. This book will help investors, observers and researchers understand the hidden logic of the design and functioning of China’s modern stock market, taking a political economy view.
Download or read book The Future of China s Bond Market written by Mr. Alfred Schipke and published by International Monetary Fund. This book was released on 2019-03-13 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.
Download or read book Seasonalities in China s Stock Markets Cultural or Structural written by Li L. Ong and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-01-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine returns in the Chinese A and B stock markets for evidence of calendar anomalies. We find that both cultural and structural (segmentation) factors play an important role in influencing the pricing of both A- and B-shares in China. There is some evidence of a February turn-of-the-year effect, partly owing to the timing of the Chinese Lunar New Year (CNY); and the holiday effect around the CNY period is stronger and more persistent compared with the other public holidays. The segmentation between the two markets is apparent in the day-of-the-week effect, where B stock markets tend to post significant negative returns on Tuesdays, corresponding with overnight developments in the United States, while significant negative returns are observed on Mondays in the A stock markets. Investment strategies based on some of these calendar anomalies, and allowing for transaction costs, suggest that the A stock markets tend to offer more economically significant returns.
Download or read book The Chinese Stock Market Volume II written by S. Cheng and published by Springer. This book was released on 2014-12-15 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Both quantitative and qualitative analysis is used to review China's stock market in a book containing the latest research on China's IPO market, the 2006-07 market bubble, the development of institutional investors, the stock index futures market, stock sector performance, corporate governance of listed firms and China's growth enterprise market.
Download or read book Is the Stock Market Just a Side Show written by Murillo Campello and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable status. This paper examines the effects of stock markets on corporate outcomes exploiting multiple institutional features of the Chinese conversion program. Using a generalized propensity score matching approach, we identify increases in corporate profitability, investment, value, and productivity as a result of the reform. We also identify changes in firms' likelihood to issue shares and engage in mergers, as well as changes in dividend and capital structure policies. Our findings provide insights on the role of stock markets in shaping corporate activity and on the impact of regulation on economic growth.
Download or read book The Efficiency of China s Stock Market written by Shiguang Ma and published by Ashgate Publishing, Ltd.. This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Chinese Securities Companies written by Wu Xiaoqiu and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the turn of this century, China's capital market entered a new era. Since then, the continuously fast growth and rising income levels in China have led to significant change in the market's financial structure. Increasingly active financial investments that are becoming more market-oriented and individual demand for financial services have brought about increasing need for diversity, securitization and portfolio management services. Meanwhile, securities companies in China, as the major providers of financial services in the capital market, are going through a period of significant opportu.
Download or read book Chinese Stock Markets written by Dongwei Su and published by World Scientific. This book was released on 2003 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exponential growth of China''s stock markets in the past decade has attracted global attention from academics and practitioners. The practitioner''s interest in Chinese markets stems from corporations; investors and financial institutions foresee substantial benefits from investing in China in the long run. However, the academic literature on the development of securities markets and reform of state enterprises in China is still in its infancy and fragmented. This handbook aims to bridge that gap by presenting a wide spectrum of research in the forefront of financial applications. It integrates theory and practice with state-of-the-art statistical techniques and provides numerous insights into the main challenges confronting Chinese markets in the new millennium. Contents: Development of Chinese Stock Markets; Structural and Institutional Characteristics; Risk, Return and Regulation in Chinese Stock Markets; Ownership Restrictions and Foreign Shares Discount; Excess Volatility in Domestic Share Markets; The Underpricing of Initial Public Offerings; Corporate Governance and Post-IPO Financing; Accounting Information and Stock Performance; Internationalization of Chinese Stock Markets; Appendices: Securities Law; Summary of P.R.C Taxes; Major Events in Chinese Stock Markets. Readership: PhD and advanced MBA students, researchers, practitioners, and policymakers interested in emerging market issues.
Download or read book The Chinese Stock Market written by Nicolaas Groenewold and published by Edward Elgar Publishing. This book was released on 2004 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of a stock market in China only occurred a decade ago and it remains something of an unknown quantity to many observers and traders outside of the country. This book provides an extensive historical and empirical analysis of the Chinese stock-market, the development of which is an integral part of the process of economic modernization that began in China in the late 1970s. The authors address a variety of critical topics to assess the efficiency, predictability and profitability of the Chinese stock-market. They carefully examine the evolution and performance of the market over the past ten years and measure its level of efficiency using an array of empirical studies. The results reveal that not only is the stock market far from efficient but that it has also failed to properly integrate with other regional markets. Thus, the authors propose further reforms which they argue are necessary for the stock market to realize its full potential contribution to the operation of China's financial markets and to its continuing economic development. The stock market in China will undoubtedly grow in importance and international influence during the next ten years. As such, this valuable new book will be required reading for economic researchers, business economists and market analysts, as well as academics with an interest in Chinese business and Asian finance.
Download or read book To Get Rich is Glorious written by C. Walter and published by Palgrave Macmillan. This book was released on 2001-05-14 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: From village collectives in Southern China in the early 80s to the summer 1999 share rally, To Get Rich is Glorious provides a guide to twenty years of China's stock markets. The book analyses the changes that have occurred in all areas of China's securities business including legal, regulatory, share structure, issuers, investor base and market performance. Topics are placed in the context of the industry's overall development to highlight the market's current situation as China enters the new century.
Download or read book China s 40 Years of Reform and Development 1978 2018 written by Ross Garnaut and published by ANU Press. This book was released on 2018-07-19 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.
Download or read book Structural Change and Evolution of China s Internet Society written by Liu Shaojie and published by Taylor & Francis. This book was released on 2022-11-28 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title investigates China’s network society, both its online cyber society and offline real world society, by analyzing the trends and social foundations of society as network and the social challenges it poses, as well as structural changes in social space and social interaction. The first part of the book examines how network society in China forms and develops, analyzing the challenges and structural changes it poses. The author studies network power and uncertainties that lies in the supply, flow, and reception of a massive amount of information, revealing how this influences the government's administrative power as well as governance measures to stabilize social cohesion. The second part first discusses the social restructuring and characteristics of network social space in China. Based on case studies of several momentous social events, the spatial change characterized by an integration of absence and presence space and its influence on social interaction and experience is elucidated, including active absence interaction, mediated experience, spatial representation, and social identities of network aggregation. The book will be a crucial reference for scholars and students studying sociology, network sociology, and contemporary Chinese society.
