Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2009
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set general guidelines …-sectionally, abnormal returns are associated mainly with turnover and compensation. This shows that in a speculative market, investors do … not properly react to unambiguous corporate actions. -- Speculation ; Chinese Stock Market ; Market segmentation ; Event …