search query: @author Bergström, C. / total: 3
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| Author: | Bergström, C. Tang, E. |
| Title: | Price differentials between different classes of stocks: an empirical study on Chinese stock markets |
| Journal: | Journal of Multinational Financial Management
2001 : OCT-DEC, VOL. 11:4-5, p. 407-426 |
| Index terms: | ASSET VALUATION MARKET SEGMENTATION STOCK MARKETS PRICING CHINA |
| Language: | eng |
| Abstract: | This paper investigates the effect of strict segmentation on pricing in the context of the Chinese stock markets. The paper demonstrates that information asymmetry between foreign investors and domestic investors, liquidity effects, diversification effects, clientele bias, risk-free return differentials between foreign and domestic investors, and foreign exchange risks are significant factors in explaining discounts on shares that can only be owned by foreign investors. |
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