This paper considers the effect of extended trading in stocks that are traded in both Hong Kong and London. Trading volumes in the stocks, in both markets, appear significantly lower on Mondays and Tuesdays and on days immediately after holidays. Studies elsewhere attribute subdued trading on...

Within the context of the mainland Chinese (Shanghai and Shenzhen) and Hong Kong market places, we investigate two of the most important documented calendar anomalies: the 'turn-of-the-month' and Chinese Lunar New Year (CLNY) return effects. Both appear as features of all three markets over the...

During the period 1989 to 1996, the New Zealand Stock Exchange modified the settlement regime of its listed stocks on six separate occasions. These changes provide an opportunity to assess the impact of settlement practice upon day-of-the-week returns in a more meaningful fashion than has,...

Prior Hong Kong-based studies have dealt predominantly with Initial Public Offerings (IPOs) configured in a single-tranche offer form (see McGuinness (1992); Cheng et al. (2004); Fung et al. (2004); Vong (2006) for the main board; and Vong and Zhao (2008) for the Growth Enterprise Market (GEM))....

In this study, the extant literature relating to the link between the ownership structure of Mainland PRC-incorporated enterprises and firm performance, is extended and updated by considering SOEs with substantial 'foreign' (i.e., non-Mainland) ownership. This analysis is carried out for the...

A strong pre-holiday effect is revealed in this study of Hong Kong stock returns. Importantly, the effect does not appear to be modulated by day-of-the-week effects, which themselves are highly volatile and inconsistent across various sub-periods. As documented in earlier studies for the 1970s...

In recent years, China has partially privatized some of its most important state-owned enterprise companies. Hong Kong has been host to the largest of these issues and during the five-year period, 2005--2009, more initial public offering (IPO) funds were generated through this market than any...