We study the impact of currency shifts on the market value of the four major Australian banks. Specifically we examine the relationship between the value of the Australian dollar against the US dollar, the Sterling Pound, and the New Zealand dollar and the PB ratios of these four banks. We find...

Due to the share segmentation system, tender offers in the Chinese stock markets are very rare. We investigate the performance and characteristics of acquiring firms on 1148 Mamp;A on the two Chinese stock markets from 1998 to 2003, where a listed company acquires stocks or assets from another...

We investigate the performance and characteristics of acquiring firms on 1148 Mamp;A on the two Chinese stock markets from 1998 to 2003. Using the market model, the CAPM model and the buy-and-hold methods, we find significantly positive abnormal returns before (6 months) and upon Mamp;A...

We study the short-run performance of the Chinese privatization initial public offerings (PIPOs), using data of 668 new issues on the both Shanghai and Shenzhen Stock Exchanges from 1 January 1996 through 31 December 2000. We find that the average market-adjusted initial returns on the 1st, 5th,...

The long-run performance of Chinese IPOs is investigated using 897 A-share IPOs listed on the two Chinese stock exchanges from 1996 to 2002. Significantly positive abnormal returns are found up to three years after listing by using the cumulative abnormal return measure, the buy-and-hold...