Based on the data of companies listed on A-share market during the year 2001 to 2009, this paper explores the relationship between product market power and trade volume in the view of heterogeneous beliefs. It's found that the improvement of product market power significantly promotes trading,...

Based on the data of 786 companies listed on A-share market during 2001 to 2009, this paper studies firm-specific return volatility. It's found that the absolute level of firm-specific volatility is rising, while the weight of firm-specific volatility is decreasing, which implies declining...

Based on the research of Tookes (2008) and Peress (2010), we include corporate governance into their framework. We find that product market power can speed up information dissipation and improve stock liquidity. This effect is significant even when we control the corporate governance variables,...