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Research on the margin of futures markets and the policy spillover effect

Wan, Difang; Yang, Yang; Fang, Dong; Yang, Guang - In: China Finance Review International 1 (2010) 1, pp. 34-56

Purpose – The purpose of this paper is to investigate whether the change of margin in Chinese futures markets has policy spillover effects. Design/methodology/approach – The paper constructs a model based on Harzmark and on Chng, taking Chinese futures markets status quo as a single species...

Persistent link: https://www.econbiz.de/10014694446

Illiquidity and asset pricing in the Chinese stock market

Wang, Maobin; Kong, Dongmin - In: China Finance Review International 1 (2010) 1, pp. 57-77

Purpose – Since illiquidity risk is one of the most important pricing factors of assets, the aim of this paper is to evaluate the suitability of proxies of illiquidity prevalent in the asset pricing literature and their explanatory power in asset pricing tests. Design/methodology/approach –...

Persistent link: https://www.econbiz.de/10014694447

Releasing of restricted shares, firm quality, and market trading activity

Xu, Xiao‐dong; Wang, Xia; Jin, Yi - In: China Finance Review International 1 (2010) 1, pp. 78-97

China. Design/methodology/approach – The paper employs event study and empirical analysis. Findings – It was found that the …

Persistent link: https://www.econbiz.de/10014694448

Does the balance of power among block shareholders have impact on top management turnover?

Xie, Jun; Zeng, Xiaotao - In: China Finance Review International 1 (2010) 1, pp. 98-113

institutional background of relatively weak legal protection for medium and small investors in China, centralized shareholding by …

Persistent link: https://www.econbiz.de/10014694449

Positive feedback trading, institutional investors and securities price fluctuation

Hong, Yin - In: China Finance Review International 1 (2011) 2, pp. 120-132

Purpose – The purpose of this paper is to research and analyze the influence of institutional investors in the present securities market due to behavior alienation with “running after rising and falling” and “herd behavior”. Design/methodology/approach – A DeLong, Shleifer, Summers,...

Persistent link: https://www.econbiz.de/10014694450

The effect of differentiated margin on futures market investors' behavior and structure

Luo, Jin‐hui; Wan, Di‐fang; Yang, Yang; Yang, Guang - In: China Finance Review International 1 (2011) 2, pp. 133-151

order to resolve the problem of unreasonable investor structure in China's futures market, i.e. lack of hedgers and over …‐speculating, China's futures market's regulators should reform the margin system and adopt differentiated margin system to lead investors …

Persistent link: https://www.econbiz.de/10014694451

Dividends and tunneling: evidence from family firms in China

Xu'nan, Feng - In: China Finance Review International 1 (2011) 2, pp. 152-167

dividends in China. Design/methodology/approach – Using some econometrical models, the paper designs and conducts a series of … paper discusses investor protection matters in China. Originality/value – The paper' findings provide policy implications … for corporate governance reform and capital market development in China. …

Persistent link: https://www.econbiz.de/10014694452

Effect of capital constraints on risk preference behavior of commercial banks

Ma, Li; Dai, Junxun; Huang, Xian - In: China Finance Review International 1 (2011) 2, pp. 168-186

Purpose – The purpose of this paper is to analyze how the financial supervision authority utilizes the restrictions of capital constraints imposing on commercial banks the need to develop the macro economy. Design/methodology/approach – This paper uses multilateral game to deduce the loan...

Persistent link: https://www.econbiz.de/10014694453

The investigation on the relationship between the problem of long‐term loan and economic growth

Du, Wenjie - In: China Finance Review International 1 (2011) 2, pp. 187-198

China's economy maintained rapid growth. The purpose of this paper is to explore the profound causes of the medium‐ and long … provinces and cities of China during 1994‐2005, this paper investigates the determinants on the maturity of bank credit using …

Persistent link: https://www.econbiz.de/10014694454

A new solution to the St Petersburg paradox and estimates under uncertainty

Wen Hui, Wang - In: China Finance Review International 1 (2011) 3, pp. 204-219

Purpose – The purpose of this paper is to argue that Bernoulli's “utility function solution to the St Petersburg paradox” was wrong and to find a new method to solve the paradox. Design/methodology/approach – This goal is attained through two ways: using Bernoulli's and Kramer's utility...

Persistent link: https://www.econbiz.de/10014694455