Abstract
We study how the information and trading environments of Hong Kong-listed Chinese companies (H-share firms) change once the companies return to the China A-share markets for listing. We examine the stock price synchronicity, liquidity commonality, and stock liquidity after dual-listing and investigate three channels related to possible changes. We find that added A-share analyst coverage influences the stock liquidity, but not the price synchronicity or liquidity commonality. Moreover, Qualified Direct Institutional Investors' trading affects price synchronicity, liquidity commonality, and stock liquidity while Qualified Foreign Institutional Investors' trading affects price synchronicity and liquidity commonality, but not stock liquidity.
| Original language | English |
|---|---|
| Pages (from-to) | 31-45 |
| Journal | Pacific Basin Finance Journal |
| Volume | 36 |
| Online published | 12 Dec 2015 |
| DOIs | |
| Publication status | Published - Feb 2016 |
| Externally published | Yes |
Research Keywords
- Analyst coverage
- Dual listings
- H-shares
- Liquidity commonality
- Stock price synchronicity
Fingerprint
Dive into the research topics of 'Are stock price more informative after dual-listing in emerging markets? Evidence from Hong Kong-listed Chinese companies'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver