Sökning: "A-share price premium"

Hittade 3 uppsatser innehållade orden A-share price premium.

1. 1. Does Noise Trader Risk Repel Arbitrageurs? Evidence from Chinese A-H Share Premia

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Qing Zhu; Haihui Li; [2020]
   Nyckelord :noise trader risk; A-H premia; volatility; investor sentiment; limits to arbitrage;

   Sammanfattning : What causes the Chinese A-H share premia puzzle? A-shares enjoy a premium over corresponding H-shares on average by 125%, despite the same rights and dividends. The existing hypotheses such as differential risk, differential demand, liquidity, and asymmetric information cannot successfully account for the great magnitude of inflated A-share prices and are also inconsistent with our sample from 2014-2019. LÄS MER

3. 2. Closed-End Funds and their Net Asset Value over time : A study of the relationship between Swedish closed-end funds' market prices and their underlying assets over a period of time.

   Kandidat-uppsats, Jönköping University/IHH, Nationalekonomi

   Författare :Erik Cederberg; Linus Schnitzer; [2020]
   Nyckelord :Closed-end fund; Net Asset Value; Mean Reversion; Closed-end fund discount; Stock market; Investment strategy; Cointegration; Error Correction;

   Sammanfattning : Closed-end funds (CEFs) are popular investments amongst the Swedish population as they provide diversification to investors and have in many cases historically outperformed the market. In deciding whether to invest in a CEF, the method of valuation differs from classical financial ratios used to value most companies, as the revenue-bringing operations differ significantly. LÄS MER

4. 3. Modeling Price Differentials between A Shares and H Shares on the Chinese Stock Market

   Magister-uppsats, Lunds universitet/Nationalekonomiska institutionen

   Författare :Manshu Li; Dandan Xu; [2008]
   Nyckelord :A-share price premium; Panel data analysis; QFII; Economics; econometrics; economic theory; economic systems; economic policy; Nationalekonomi; ekonometri; ekonomisk teori; ekonomiska system; ekonomisk politik; Business and Economics;

   Sammanfattning : In this paper, we model the price differentials between A shares and H shares in the Chinese stock markets with both macroeconomic factors and firm specific factors, which successfully explain the A share price premium. Discounts of H-share prices relative to A-share prices are related to the contemporaneous movements of the H-share local market index relative to the A-share local market index, the spread of interest rates and inflation rates between Hong Kong and mainland China as well as firm size, liquidity and volatility of the stock. LÄS MER