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Stock Market Liberalization, Investment Banks, and Analyst Forecast Quality : Evidence From a Quasi-Natural Experiment in China
Pittman, Jeffrey - 2019
Capitalizing on a quasi-natural experiment in China where certain investment banks become investible to the global market across different periods, we explore the role that stock market liberalization plays in shaping local analysts' incentives to provide high quality forecasts. In a staggered...
Persistent link: https://www.econbiz.de/10012861751
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Worldwide Short Selling Regulations and IPO Underpricing
Boulton, Thomas Jason - 2020
We study the impact of country-level short selling constraints on IPO underpricing. Examining 17,151 IPOs from 36 countries, we find that IPO underpricing tends to be greater in countries that ban short selling or security lending and in countries where short selling is not practiced....
Persistent link: https://www.econbiz.de/10012841596
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Global integration and emerging stock market excess returns
Donadelli, Michael - In: Macroeconomics and finance in emerging market economies 6 (2013) 2, pp. 244-279
Persistent link: https://www.econbiz.de/10010203948
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Short-Run Pain, Long-Run Gain : Financial Liberalization and Stock Market Cycles
Kaminsky, Graciela Laura; Schmukler, Sergio L. - 2008
The views on financial liberalization are quite conflictive. Many argue that it triggers financial bubbles and crises. Others claim that financial liberalization allows markets to function properly and capital to move to its most profitable destination. The empirical evidence on these effects is...
Persistent link: https://www.econbiz.de/10012562726
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Stock Market Liberalization and Corporate Investment Revisited
Li, Zhisheng - 2020
A recent reform in China, the Shanghai-Hong Kong Stock Connect program, made a subset of Chinese stocks investable for foreign investors, thus partially opening China's stock market. We use this reform to examine the quantity and quality effects of stock market liberalization on corporate...
Persistent link: https://www.econbiz.de/10012845804
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Financial development : a broader perspective
Reid, Richard - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10008907303
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Financial Development : A Broader Perspective
Reid, Richard - 2011
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10013132042
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Extending financialisation and increasing fragility of the financial system
Iancu, Aurel - 2013
Financialisation is a complex and dynamic process of enlarging the monetary and financial relations in economy and society. This paper deals with the analysis of the financial market structure such as: the role and magnitude of financial sectors, the dynamics of the banking sector versus the...
Persistent link: https://www.econbiz.de/10010529060
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Dividend Policy and Stock Price Volatility in an Emerging Market : Does Ownership Structure Matter?
Tran, Nam - 2020
This paper examines the impacts of dividend policy and ownership structure on stock price volatility in the Vietnamese market. The study also tests for the moderating effect of foreign/state ownership on the dividend policy–price volatility relation. The authors use a comprehensive panel...
Persistent link: https://www.econbiz.de/10012849579
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Are initial public offerings significant to firm performance in an emerging stock market? Evidence from China
Gao, Qian; Long, Hai; Zhao, Jianzhi - 2021
Purpose: This study investigates firm performance after going public and explores whetherInitial Public Offerings (IPOs) contribute to it.Design/methodology/approach: This study employs comprehensive regression models toexamine IPO significance to both operating performance and market...
Persistent link: https://www.econbiz.de/10014361505