The literature suggests that voluntary IPO lockups (thereafter lockups) have both roles as a commitment device to control moral hazard and a signaling device to minimize asymmetric information. Using a hand collected data on lockups in China from 2006 to 2012, this paper disentangles the two...

This study investigates the joint explanation and impact of economic growth, equity market performance and economic growth uncertainty on foreign participation (using net inflows from equity securities held by foreign investors as a proxy) in local equity market. Based on the analysis of...

This study investigates the impact of economic growth risk on stock market performance in 70 countries. Based on the analysis of the full sample, on average, 1% increase in economic growth risk is associated with 0.23% (p = 0.058) increase in stock market return. Looking at stock market return...