Essays on emerging market finance:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Göteborg
Nationalekonomiska Inst.
1999
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| Series: | Ekonomiska studier
94 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | VII, 156 S. graph. Darst. |
| ISBN: | 918851451X |
Staff View
MARC
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Record in the Search Index
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| adam_text | CONTENTS
Introduction and Summary 1
1 Introduction 1
2 Summary of Part I: Financial Distress and Bankruptcy Costs 2
3 Summary of Part II: Economic Costs of Political Events 3
4 Summary of Part III: Equity Market Segmentation 3
References 9
Part I Financial Distress and Bankruptcy
Costs 11
Essay 1 Leverage and Corporate Performance in the Indian
Textile Industry 13
Shubhashis Gangopadhyay and Jianhua Zhang
1.1 Introduction 13
1.2 Industrial Regulation in India 15
1.3 Data and Models 16
1.4 Empirical Results 19
1.5 Conclusions 26
References 26
Part II Economics Costs of Political Events 29
Essay 2 India and Pakistan Go Nuclear: The Economic
Costs for India, Pakistan and China 31
Richard J. Sweeney and Jianhua Zhang
2.1 Introduction 31
2.2 Sequence of Events 32
2.3 Event Study Estimates of the Economic Costs: Methods 34
2.4 Stock Markets Estimates of the Economic Costs 36
2.5 Interpretation of the Markets Reactions 56
2.6 Some Conclusions 58
References 59
Part III Equity Market Segmentation 61
Introduction to Part III: The Chinese Equity Markets 63
1 Introduction 63
2 Market Microstructure 63
3 Share Categories 64
v
4 IPOs and SEOs 66
5 The Behavior of Prices of A and B Shares 66
6 Regulatory Framework 68
Appendix 70
References 73
Essay 3 Market Segmentation and Stock Price Premia 74
Jianhua Zhang
3.1 Introduction 74
3.2 Conceptual Framework 77
3.2.1 Liquidity Model 77
3.2.2 Differential Demand Elasticity and Differential
Valuation Models 79
3.3 Data and Econometric Specification 86
3.3.1 Empirical Design 86
3.3.2 Data 87
3.3.3 Econometric Models 92
3.4 Empirical Results 94
3.5 Conclusions 99
Appendix 3.1 100
References 101
Essay 4 The Information Effects of A B Share Offerings 103
Jianhua Zhang
4.1 Introduction 103
4.2 Theoretical and Empirical Background 105
4.3 Data and Methodology 107
4.4 Empirical Results 111
4.4.1 Event Study of the Effect of an Issue of New
B Shares on A Shares 11l
4.4.2 Cross Sectional Regression of the Factors to
Affect the A share Abnormal Returns
Related to the B share Issuing 115
4.4.3 Event Study of the Effect of an Issue of
A share Stock Rights on A Shares !!7
4.5 Conclusions 120
Appendix 4.1 21
References 22
Essay 5 Market Segmentation and Information Diffusion 125
Boo SjoQ and Jianhua Zhang
5.1 Introduction 125
5.2 Theoretical Framework and Hypotheses ^
5.3 Cointegration, Error Correction and Information Diffusion 13°
vi
5.4 Data and Empirical Results 134
5.4.1 Data 134
5.4.2 Cointegration and Information Diffusion 134
5.4.3 Average Price Indices 136
5.4.4 The Firm Size Effect 147
5.5 Summary and Conclusions 148
Appendix 5.1 150
Appendix 5.2 151
References 153
vii
|
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| discipline | Wirtschaftswissenschaften |
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| isbn | 918851451X |
| language | English |
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| physical | VII, 156 S. graph. Darst. |
| publishDate | 1999 |
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| publisher | Nationalekonomiska Inst. |
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| series | Ekonomiska studier |
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| spelling | Zhang, Jianhua Verfasser aut Essays on emerging market finance Jianhua Zhang Göteborg Nationalekonomiska Inst. 1999 VII, 156 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Ekonomiska studier 94 Zugl.: Göteborg, Univ., Diss., 1999 Faillissement gtt Privatisering gtt Investments China Market segmentation China Stock exchanges China Kapitalmarkt (DE-588)4029578-3 gnd rswk-swf Emerging Market (DE-588)4398432-0 gnd rswk-swf Pakistan (DE-588)4075812-6 gnd rswk-swf China (DE-588)4009937-4 gnd rswk-swf Indien (DE-588)4026722-2 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content (DE-588)4113937-9 Hochschulschrift gnd-content Emerging Market (DE-588)4398432-0 s Kapitalmarkt (DE-588)4029578-3 s DE-604 China (DE-588)4009937-4 g Indien (DE-588)4026722-2 g Pakistan (DE-588)4075812-6 g DE-188 Ekonomiska studier 94 (DE-604)BV000011510 94 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008790109&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Zhang, Jianhua Essays on emerging market finance Ekonomiska studier Faillissement gtt Privatisering gtt Investments China Market segmentation China Stock exchanges China Kapitalmarkt (DE-588)4029578-3 gnd Emerging Market (DE-588)4398432-0 gnd |
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| title | Essays on emerging market finance |
| title_auth | Essays on emerging market finance |
| title_exact_search | Essays on emerging market finance |
| title_full | Essays on emerging market finance Jianhua Zhang |
| title_fullStr | Essays on emerging market finance Jianhua Zhang |
| title_full_unstemmed | Essays on emerging market finance Jianhua Zhang |
| title_short | Essays on emerging market finance |
| title_sort | essays on emerging market finance |
| topic | Faillissement gtt Privatisering gtt Investments China Market segmentation China Stock exchanges China Kapitalmarkt (DE-588)4029578-3 gnd Emerging Market (DE-588)4398432-0 gnd |
| topic_facet | Faillissement Privatisering Investments China Market segmentation China Stock exchanges China Kapitalmarkt Emerging Market Pakistan China Indien Aufsatzsammlung Hochschulschrift |
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| work_keys_str_mv | AT zhangjianhua essaysonemergingmarketfinance |