Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia

By J. Mei, Jose A. Scheinkman. 2005

351 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b49dbce284ae844719a231630d9ab8e566b2a7ee

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Citations in the corpus

Political Connections and Minority-Shareholder Protection: Evidence from Securities-Market Regulation in China (2010, background): “…and Class-B shares, which can only be held by foreign investors.15 Most Class-B shareholders are international financial institutions, whereas most Class-A shareholders are individual investors, with only limited ownership by domestic financial institutions (see Mei, Scheinkman, and Xiong (2005)).”
Risks in China's Financial System (2018, neutral): “There is also extensive evidence linking investors’ speculative motives, induced by their heterogeneous beliefs, to stock prices in China, e.g., Mei, Scheinkman, and Xiong (2009), Andrade, Bian, and Burch (2013), Chang, et al. (2015), Hong et al. (2014), Jia, Wang, and Xiong (2017).”
The Price Impact of Institutional Herding (2011, background): “…high share turnover and overvaluation, particularly during the technology bubble (see, for example, Ofek and Richardson (2003), Lamont and Thaler (2003), Cochrane (2003), Mei, Scheinkman, and Xiong (2009)).17 Some other theoretical papers also derive a link between trading volume and mispricing.”
What Does Bitcoin Look Like (2015, background): “However, the ambiguous attitude of regulators towards Bitcoin in China, coupled with the typical Chinese investor’s lack of experience will prompt an intensive speculation (Mei et al. 2009).”
A Simple Way to Estimate Bid-Ask Spreads from Daily High and Low Prices (2012, background): “Specifically, under the assumptions that stock prices follow the usual geometric Brownian motion and the price is observed continuously, Parkinson (1980) and Garman and Klass (1980) show that a powerful and unbiased variance estimator can be defined as”
Asset Float and Speculative Bubbles (2006, positive): “In addition to these anecdotal accounts, research by Mei et al. (2004) provides direct evidence in support of our simple model of Section I.”