iThis study examines the stock-price behavior of Chinese stock markets in the Shanghai and Shenzhen Stock Exchanges. There are strict stock-ownership restrictions in China. Foreign investors can only trade B shares, while domestic investors can only trade A shares. Under this two-tier trading...

This article studies the impact of the Asian financial crisis on index options and index futures markets in Hong Kong. We employed a time‐stamped transaction data set of the Hang Seng Index options and futures contracts that were traded on the Hong Kong Futures Exchange. The results show that...

This paper examines the announcement effects of US-Chinese joint ventures and explores several firm-specific factors which may affect the size of the abnormal returns. A sample of 103 joint ventures during the 1973-1993 period and eight variables, including current ratio, debt ratio, total asset...

We investigate net buying pressure in the Hong Kong Hang Seng Index options market during the Asian financial crisis from July 1997 to August 1998. Our findings suggest that during this period, the dramatic changes in volatility overwhelmed the dynamics of supply and demand in the options...

We provide a global ranking of accounting research and examine the elite degree and elite affiliation effect. Based on 24 accounting journals during the period 1991-2005, the top 5 most productive countries in accounting research are in the following order: the USA, the UK, Australia, Canada and...

We examine the impact of option trading activity on implied volatility changes to returns in the index futures option market. Controlling for option moneyness, delta-to-option-premium ratio, and liquidity, we find that net buying pressure, profit-maximization behavior, and liquidity are...