The 2005 split-share reform in China mandated the conversion of previously non-tradable stocks into tradable status. The reform was swift and changed investors’ability to trade corporate equities in a US$400 billion market. This paper examines the e¤ects of stock markets on …rms ’ real and …nancial outcomes. It does so exploiting multiple institutional features of the Chinese equity conversion program. We …rst examine a pilot trial conducted at the beginning of the reform, which we are able to replicate using the same data and selection criteria that was used by policy-makers. We also take advantage of the staggered nature of the conversion schedule used in the second phase of the reform, whereby over one thousand …rms converted their share...
During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non...
In this article we examine the dual-track pricing system in China’s stock market since its inaugurat...
We use evidence from the 2005-2006 reform of the Chinese stock market to study the impact of asset f...
The 2005 split-share reform in China ordered the conversion of previously non-tradable stocks into t...
The 2005 split-share reform in China mandated the conversion of previously non-tradable shares into ...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
Abstract: We evaluate the stock price effects of the 2005-2006 reform of the Chinese stock market as...
We show that the split share structure reform was beneficial for small stocks, stocks characterized ...
We show that the split share structure reform was beneficial for small stocks, stocks characterized ...
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set g...
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set g...
This thesis investigates the impact of the reform of the split share structure on the Chinese capita...
The Split Share Structure Reform in China offers a unique opportunity to test whether the supply of ...
During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non...
In this article we examine the dual-track pricing system in China’s stock market since its inaugurat...
We use evidence from the 2005-2006 reform of the Chinese stock market to study the impact of asset f...
The 2005 split-share reform in China ordered the conversion of previously non-tradable stocks into t...
The 2005 split-share reform in China mandated the conversion of previously non-tradable shares into ...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable sta...
Abstract: We evaluate the stock price effects of the 2005-2006 reform of the Chinese stock market as...
We show that the split share structure reform was beneficial for small stocks, stocks characterized ...
We show that the split share structure reform was beneficial for small stocks, stocks characterized ...
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set g...
In 2005-2006 China reformed its stock market by eliminating non-tradable shares. The regulator set g...
This thesis investigates the impact of the reform of the split share structure on the Chinese capita...
The Split Share Structure Reform in China offers a unique opportunity to test whether the supply of ...
During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non...
In this article we examine the dual-track pricing system in China’s stock market since its inaugurat...
We use evidence from the 2005-2006 reform of the Chinese stock market to study the impact of asset f...