Information Asymmetry and Asset Prices: Evidence from the China Foreign Share Discount

By Kalok Chan, Albert J. Menkveld, Zhishu Yang. 2008

388 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/64941b6fa1beacd75e8dd614213c8e402edea708

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Citations in the corpus

Asset Pricing in China's Domestic Stock Markets: Is There a Logic? (2007, background): “Existing studies on asset pricing (e.g., Chan, Menkveld, and Yang, 2006; Fung, Lee, and Leung, 2000; Fernald and Rogers, 2002; Sun and Tong, 2000) are mainly concerned with explaining the relative pricing of A-shares versus Bshares.”
China’s Financial System: Opportunities and Challenges (2011, neutral): “Among them, “other commercial banks” (many of them are state-owned), RCCs, and TICs hold the largest amount of assets; the size of foreign banks and mutual funds (not listed in the table) is minuscule, but these are likely to be the focus of development in the near future.(24) Finally, our coverage ”
Bank relationships, business cycles, and financial crises (2011, background): “Local informational advantages have also been documented in various contexts in finance literature (Ahearne et al., 2004; Bae et al., 2008; Chan et al., 2008; Coval & Moscowitz, 2001; Huberman, 2001).”
Can investor sentiment be a momentum time-series predictor? Evidence from China (2017, background): “One such example is the long-lasting price discrepancies between A-shares and B-shares in China (Mei et al. 2009), or the same Chinese firm being crossed-listed in the Chinese A-share markets and in the Hong Kong Stock Exchange or in NYSE/Nasdaq in the US (Chan et al. 2008).”
Living through the Great Chinese Famine: Early-life experiences and managerial decisions ☆ (2018, background): “For more information on China’s share classes, see Chan et al. (2007, 2008).”
Do Implicit Barriers Matter for Globalization (2013, positive): “There is also theoretical and empirical evidence that information asymmetry is priced in international equity markets based on market liquidity and adverse selection, see for example Chan, Menkveld, and Yang (2008).”
China's Great Economic Transformation: China's Financial System: Past, Present, and Future (2007, neutral): “In many deals, a Hybrid Sector firm (non-listed) acquires a listed firm that is converted from an SOE, but the large amount of non-tradable shares held by the state remain intact after the transaction.(18) Such an acquisition can be the means through which low quality, nonlisted companies bypass lis”