Essays on the Importance of Market Rules

Essays on the Importance of Market Rules

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The third essay re-examines the experiments in Brockman and Chung 2003, who argue that relatively weak investor protection associated with the China-based stocks leads to more information asymmetry and higher trading costs than the Hong Kong-based stocks. This study compares these two groups of stocks with more balanced market capitalization. And directly comparing costs of adverse selection that are related to the degree of legal protection, it shows that differences in investor protection do not appear to be related to differences in liquidity between China- and Hong Kong-based stocks.The third essay re-examines the experiments in Brockman and Chung 2003, who argue that relatively weak investor protection associated with the China-based stocks leads to more information asymmetry and higher trading costs than the Hong ...


Title:Essays on the Importance of Market Rules
Author:Jia Hao
Publisher: - 2007
ISBN-13:

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