Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125034190> ?p ?o ?g. }
Showing items 1 to 67 of
67
with 100 items per page.
- W3125034190 abstract "Many companies on China's stock markets have separate, restricted classes of shares for domestic residents and foreigners. Other than who can own them, these shares are identical, but foreigners pay only about one-quarter the price paid by domestic residents. We show that plausible differences--about 4 percentage-points--in expected rates of return by foreign and domestic investors can account for the generally higher level and volatility of prices for domestic shares relative to foreign shares. We attribute low Chinese expected returns to the limited alternative investments available in China. We then explore the extent to which various company characteristics can explain cross-company differences in the relative price paid by foreigners. For example, foreigners pay a lower relative price for companies with a higher proportion owned by the state--reflecting, surprisingly, a higher absolute price paid by both foreigners and domestic residents. Several puzzles remain. For example, we are unable to explain why Chinese investors in Shanghai paid lower prices in 1994 and 1995 for companies with their foreign listings in Hong Kong rather than Shanghai." @default.
- W3125034190 created "2021-02-01" @default.
- W3125034190 creator A5015195830 @default.
- W3125034190 creator A5083232441 @default.
- W3125034190 date "1998-01-01" @default.
- W3125034190 modified "2023-10-18" @default.
- W3125034190 title "Puzzles in the Chinese Stock Market" @default.
- W3125034190 cites W1975994995 @default.
- W3125034190 cites W1990608688 @default.
- W3125034190 cites W2089115132 @default.
- W3125034190 cites W2110603299 @default.
- W3125034190 cites W2329883720 @default.
- W3125034190 cites W2891659561 @default.
- W3125034190 cites W3122712023 @default.
- W3125034190 cites W3123298589 @default.
- W3125034190 cites W4232111244 @default.
- W3125034190 doi "https://doi.org/10.2139/ssrn.124268" @default.
- W3125034190 hasPublicationYear "1998" @default.
- W3125034190 type Work @default.
- W3125034190 sameAs 3125034190 @default.
- W3125034190 citedByCount "11" @default.
- W3125034190 crossrefType "journal-article" @default.
- W3125034190 hasAuthorship W3125034190A5015195830 @default.
- W3125034190 hasAuthorship W3125034190A5083232441 @default.
- W3125034190 hasBestOaLocation W31250341902 @default.
- W3125034190 hasConcept C106159729 @default.
- W3125034190 hasConcept C144133560 @default.
- W3125034190 hasConcept C162324750 @default.
- W3125034190 hasConcept C166957645 @default.
- W3125034190 hasConcept C17744445 @default.
- W3125034190 hasConcept C191935318 @default.
- W3125034190 hasConcept C199539241 @default.
- W3125034190 hasConcept C205649164 @default.
- W3125034190 hasConcept C2779343474 @default.
- W3125034190 hasConcept C2780299701 @default.
- W3125034190 hasConcept C2991943566 @default.
- W3125034190 hasConceptScore W3125034190C106159729 @default.
- W3125034190 hasConceptScore W3125034190C144133560 @default.
- W3125034190 hasConceptScore W3125034190C162324750 @default.
- W3125034190 hasConceptScore W3125034190C166957645 @default.
- W3125034190 hasConceptScore W3125034190C17744445 @default.
- W3125034190 hasConceptScore W3125034190C191935318 @default.
- W3125034190 hasConceptScore W3125034190C199539241 @default.
- W3125034190 hasConceptScore W3125034190C205649164 @default.
- W3125034190 hasConceptScore W3125034190C2779343474 @default.
- W3125034190 hasConceptScore W3125034190C2780299701 @default.
- W3125034190 hasConceptScore W3125034190C2991943566 @default.
- W3125034190 hasLocation W31250341901 @default.
- W3125034190 hasLocation W31250341902 @default.
- W3125034190 hasLocation W31250341903 @default.
- W3125034190 hasLocation W31250341904 @default.
- W3125034190 hasOpenAccess W3125034190 @default.
- W3125034190 hasPrimaryLocation W31250341901 @default.
- W3125034190 hasRelatedWork W1979403050 @default.
- W3125034190 hasRelatedWork W2352585107 @default.
- W3125034190 hasRelatedWork W2373502959 @default.
- W3125034190 hasRelatedWork W2374786046 @default.
- W3125034190 hasRelatedWork W2400087947 @default.
- W3125034190 hasRelatedWork W2434669231 @default.
- W3125034190 hasRelatedWork W4285262819 @default.
- W3125034190 hasRelatedWork W4381682943 @default.
- W3125034190 hasRelatedWork W827920264 @default.
- W3125034190 hasRelatedWork W3123004273 @default.
- W3125034190 isParatext "false" @default.
- W3125034190 isRetracted "false" @default.
- W3125034190 magId "3125034190" @default.
- W3125034190 workType "article" @default.