Shadow banking, an informal, largely unregulated, financial market, has become increasingly important in China because the fact that it is largely unregulated can threaten the viability of the financial system. This study discusses various issues involved in Chinese shadow banking, including the...

This article discusses the initial public offerings (IPO) market in China and reviews the literature on IPO underpricing. A variety of reasons for underpricing are examined, including information asymmetry, ex ante uncertainty, signaling hypothesis, ownership dispersion, and market feedback....

This paper estimates the duration from offering to listing of Chinese A-share IPOs issued from 1994 to 2005. We firstly compare the effects of the two issuing systems on the length of this duration and find that the waiting time to listing has been shortened greatly after the Approval System is...

This paper focuses on detecting hot and cold IPO cycles in the Chinese A-share market using a Markov regime switching model. We introduce a set of observations to measure IPO activities, which include numbers of IPOs issued, levels of underpricing, market conditions and duration time from...

This paper analyses underpricing and short-run underperformance of the Chinese A-share IPOs from Mar, 2001 to 2005 when the new approval system was adopted. We find that the average market adjusted first-day return is 93.49% in this period, a more reasonable level when compared with those in...

Greenhouse gas emission has been scientifically shown to be the primary cause of observed global climate change. The reduction of greenhouse gas levels in the atmosphere deserves international attention. Aside from strategies to reduce emissions, increasing carbon (C) storage by forests has...

Households vary in their ability to deal with disasters, and this may lead to different recovery results. Aiming to examine this differentiation, this paper studied the 2009 Yao’an earthquake in China. Surveys of 200 destroyed rural households were conducted in field investigations and...

China has a long history of earthquake records. The Shanxi rift system (SRS) is situated along the axial zone of the domal uplift of the Shanxi Highlands and is the boundary between the Ordos block and the North China Plain block. Strong earthquakes in the SRS have been recorded since the...

Past research has suggested that the acceptance concern of lesbians, gays and bisexuals (LGB), defined as LGB individuals’ sensitivity to negative judgement and rejection associated with their sexuality, is negatively related to subjective wellbeing. However, the mechanism underlying this...