Powers, Eric; Xiao, Gang - In: Pacific-Basin Finance Journal 30 (2014) C, pp. 62-86
From August 2005 to December 2008, a total of 54 warrants were issued in China. Trading in China's warrant market was extremely active — on a daily basis, turnover often exceeded one. Using three standard pricing models, we document that put warrant market prices averaged 1.2 yuan more than...