Academic literature on the topic 'H-share Market'
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Journal articles on the topic "H-share Market"
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Gu, Anthony Yanxiang, and Chauchen Yang. "Short Sales Constraints and Return Volatility: Evidence from the Chinese A and H Share Markets." Review of Pacific Basin Financial Markets and Policies 10, no. 04 (December 2007): 469–78. http://dx.doi.org/10.1142/s021909150700115x.
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Returns of the same companies' common stocks, both non-market-adjusted and market-adjusted, exhibit greater volatility, on the Stock Exchange of Hong Kong where short selling is allowed than on the Shanghai Stock Exchange and Shenzhen Stock Exchange where short selling is restrained. This unique evidence indicates that short selling increases stock price volatility for the Chinese stocks in the Chinese stock markets.
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Wang, Steven Shuye, Wei Li, and Louis T. W. Cheng. "The impact of H-share derivatives on the underlying equity market." Review of Quantitative Finance and Accounting 32, no. 3 (June 4, 2008): 235–67. http://dx.doi.org/10.1007/s11156-008-0094-7.
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Zhang, Yang, and Wei Bai. "Turnover Rate and Speculative Bubble: Empirical Study on A-H Share of Dual-Listed Companies." Advanced Materials Research 457-458 (January 2012): 810–14. http://dx.doi.org/10.4028/www.scientific.net/amr.457-458.810.
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In existing researches on the spread of A-H share dual-listed companies, turnover rate is generally regarded as a proxy for liquidity, which ignores the speculative meaning of turnover. In fact, high turnover rate often reflects strong speculative characteristics of investors in A share market. In this paper the true meaning of turnover rate is considered that it’s unreasonable to use turnover rate as a proxy for liquidity. The turnover rate of dual-listed companies is not reflected as liquidity but speculation in A share market. And the meaning of turnover rate of dual-listed companies is not clear in H share market.
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Xu, Nan, and Songsong Li. "Segment Stock Market, Foreign Investors, and Cross-Correlation: Evidence from MF-DCCA and Spillover Index." Complexity 2020 (September 23, 2020): 1–15. http://dx.doi.org/10.1155/2020/5836142.
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Employing the tools of multifractal detrended cross-correlation analysis (MF-DCCA) and Diebold–Yilmaz spillover index (D.Y. spillover index), we examine the effect that the foreign investors have on the cross-correlations between the two-segment stock markets, that are the accessible and the inaccessible stock markets, and the other ten respective stock markets. The shares cross-listed by the same corporates on both the A-share and H-share stock markets of China serve as the best sample to compile the two stock indices, which stands for the inaccessible stock market (AHA) and the accessible stock market (AHH), respectively. Empirical results show that the cross-correlations between the two-segment stock markets and the other ten pairs are multifractal, the multifractal strength of cross-correlations is stronger in AHH than AHA, and the intensified growth of the multifractal cross-correlations in AHA can be seen as the increasing of the openness in the inaccessible market. The empirical result of D.Y. spillover index is consistent with the multifractal analysis above, and another interesting finding is that among the selected markets, the three markets with the strongest spillover effects with AHA and AHH are Taiwan, South Korea, and Singapore, respectively, and the weakest one is Australia during the sample scenarios.
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Ding, Yi-jun, and Yun Feng. "The impact of market trading mechanism on A-H share price premium." Applied Economics Letters 26, no. 7 (June 22, 2018): 594–600. http://dx.doi.org/10.1080/13504851.2018.1488045.
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Chong, Terence Tai-Leung, Shuo Yuan, and Isabel Kit-Ming Yan. "An Examination of the Underpricing of H-Share IPOs in Hong Kong." Review of Pacific Basin Financial Markets and Policies 13, no. 04 (December 2010): 559–82. http://dx.doi.org/10.1142/s0219091510002074.
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The main purpose of this paper is to study the empirical determinants of the underpricing of H-share initial public offerings (IPOs) during the 1993–2003 period. A special characteristic of H-shares is that they are shares of companies incorporated in China, but are also listed abroad. Our estimates indicate that the average IPO underpricing level of H-shares was about 16.8%. We find that the conventional explanations for the worldwide IPO underpricing are not adequate in explaining the underpricing level of H-shares. Some new factors that are important in explaining the underpricing phenomenon in H-shares are identified. We show that the degree of IPO underpricing is positively associated with market conditions prior to issuance. It is also negatively related to the range of the issuing prices as well as to the growth rate of historical profits. In addition, it is found that firms cross-listed in Hong Kong and America have higher underpricing levels.
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Chen, Jun, Alireza Tourani-Rad, and Ronghua Yi. "Short sales and price discovery of Chinese cross-listed firms." International Journal of Managerial Finance 12, no. 4 (August 1, 2016): 408–21. http://dx.doi.org/10.1108/ijmf-02-2015-0025.
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Purpose – The purpose of this paper is to investigate the impact of short selling and margin trading on the price discovery and price informativeness of cross-listed firms, using a sample of Chinese firms listed on the China and Hong Kong stock exchanges. Design/methodology/approach – The sample consists of 67 Chinese cross-listed firms on A-share and H-share markets out of which 18 firms are allowed to be sold short/ traded on margin since March 2010. Using pre- and post-event period, the authors compare and contrast various market microstructure variables. The contributions of the home (A-share) and overseas (H-share) markets to the incorporation of new information into prices are calculated following the permanent-transitory approach of Gonzalo and Granger (1995) as well as the adverse selection component of Lin et al. (1995). Findings – The findings indicate that for the group of Chinese cross-listed firms that are not allowed to be sold short or bought on margin, the home (A-share) market contributes more to the price discovery process over time. However, for the group of cross-listed firms that are eligible for short selling and margin trading, the authors observe no significant difference in the contribution of either A- or H-share markets to the price discovery. The contribution of home market for these firms is even lower around the announcement of major events. The authors further find that while the short sale activities appears to be informative, measured by the adverse selection (AS) component of spread, on the whole they have not led the A-share markets to be more informative. Research limitations/implications – The sample of cross-listed Chinese firms that are allowed to be sold short or bought on margin are rather limited. Hence, the results should be read with some caution. Practical implications – The removal of short selling constraints appears to improve the contribution of the respective markets to the process price discovery, in the case for larger cross-listed firms. Originality/value – The authors shed new lights on how the introduction of short selling and margin trading impacts on the price discovery of the Chinese cross-listed firms. A further contribution of the study is the use of high frequency data, while most of the previous studies on the Chinese markets use daily data.
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Cheng, Andy Wui-Wing, Nikolai Sheung-Chi Chow, David Kam-Hung Chui, and Wing-Keung Wong. "The Three Musketeers Relationships between Hong Kong, Shanghai and Shenzhen Before and After Shanghai–Hong Kong Stock Connect." Sustainability 11, no. 14 (July 15, 2019): 3845. http://dx.doi.org/10.3390/su11143845.
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This study examines the sustainability of financial integration between China (represented by Shenzhen and Shanghai) stock markets and Hong Kong stock market over the period of pre and post launch of the Stock Connect Scheme. This paper aims to fill the gap in the financial literature by providing empirical research on the dynamics of the financial integration process, and examining the sustainability of financial integration among the three Chinese stock markets. We apply cointegration and both linear and nonlinear causalities to investigate whether the Shanghai–Hong Kong Stock Connect has any impact on both market capitalizations and market indices of Hong Kong, Shanghai, and Shenzhen markets. Through cointegration tests and linear Granger causality techniques, it was found that the stock markets from mainland China are increasingly influencing the Hong Kong stock market after the introduction of the Stock Connect Scheme; however, when using nonlinear Granger causality analysis for confirming China market dominance, the result shows an reverse relationship whereby the Hong Kong stock market is still relevant to understand and predict China stock market after the introduction of the Stock Connect Scheme. Overall, our findings support the view that the Shanghai–Hong Kong Stock Connect has a significant impact on both market capitalizations and market indices of the Hong Kong, Shanghai, and Shenzhen markets, but Hong Kong stock market is still relevant to understand and predict China stock market after the introduction of the Stock Connect Scheme. The change in share premium difference between mainland China’s domestic A-share markets and Hong Kong’s H-share market could change investors’ appetites or sentiments. Further research includes examining whether there is any functional relationship including nonlinear relationship and studying the dynamic drivers of the relationships.
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Holguín-Veras, José. "Approximation model to estimate joint market share in off-hour deliveries: William H. Hart Professor." Logistics Research 4, no. 3-4 (January 17, 2012): 101–10. http://dx.doi.org/10.1007/s12159-012-0065-1.
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Li, Yongqing, Jinghui Liu, and Ian Eddie. "Share types and earnings management: Evidence from Chinese listed companies." Corporate Ownership and Control 8, no. 2 (2011): 271–84. http://dx.doi.org/10.22495/cocv8i2c2p4.
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This study contributes to the literature on the ownership structure by investigating the effect of special share types on the practice of earnings management in China. Equity ownership in listed Chinese companies have five different types: state-owned shares, legal person shares, employee shares, A-shares, and B- & H-shares, which is a phenomenon unique to the Chinese equity market. Empirical analysis shows that different share types and mixed ownership structure significantly affects the company’s earnings management. Using a sample of 544 listed Chinese company-years, this study finds that the state-owned shares and legal person shares are positively associated with earnings management. However, the proportion of B- & H-shares is not related to earnings management. In addition, empirical results also show evidence in support of a positive relationship between the proportion of A-shares and earnings management. These findings indicate that transferral of more state-owned shares and legal person shares to the public can mitigate earnings management. However, because currently in China shares are still largely owned by the state or legal persons, the magnitude of earnings management may be maintained at a high level. In addition, due to tradable A-shares has a positive relation with earnings management, holding a large proportion of A-shares still cannot effectively constrain earnings manipulation, which suggests that China’s ownership structure reform may not be highly successful as China Securities Regulatory Commission (CSRC) expected. In achieving a better corporate governance practice, further structure reform is essential
Dissertations / Theses on the topic "H-share Market"
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Wang, Yue Nan, and wangyn14@hotmail com. "The diversification benefits and the risk and return relationships in the Chinese A-share market." RMIT University. Economics, Finance and Marketing, 2006. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20061205.103325.
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China's rapid economic growth and the development of its domestic stock market have attracted considerable attention from foreign investors. China's economic financial expansion, however, has emerged from an environment of state planning and radical socialist ideology. With a view of providing investors with a better understanding of the risk and return relationship in the Chinese A-share market over the past decade, this thesis adapts several empirical models to the circumstances in China and conducts four empirical analyses. First, in order to rationalize foreign investors' entry into the A-share market, the thesis compares the diversification benefits in three China-related stock markets, namely the A-share, the B-share and the H-share markets in a mean-variance framework using daily, weekly and monthly data respectively. The results suggest that of the three stock markets, the B-share market generates the highest average annual returns while the A-share market has the most significant diversification benefits regardless of whether the analysis is undertaken implementing a traditional mean-variance framework or a downside risk framework. Next, an empirical analysis using the Fama and MacBeth two-pass procedure is undertaken to test the relationship between beta, firm factors and stock returns. Similar to the findings in other stock markets, the results of this analysis show that the static betas for individual stocks fail to capture variation in stock returns in the A-share market. In contrast, the effects of book-to-market and trading volume are significant in the sample period. However, the fact that none of these factors have a persistent role in explaining stock returns suggests a possible change in the investment philosophy of Chinese domestic investors over the past decade. In the third analysis, two global betas are incorporated into the cross-sectional regressions in a bid to examine the integration or segmentation of the A-share market with the world and Hong Kong stock markets. Specifically, both time-varying betas and static betas are used in the analysis. The results suggest that there is no beta effect and the A-share marke t is totally segmented from both the world and Hong Kong stock markets. Finally, when the segmentation and integration status of the A-share market is further examined using the Maximum Likelihood Estimation framework without beta estimation and the assumption of a linear relationship between beta and stock returns, the findings suggest that the A-share market is becoming increasing integrated with the B-share and the Hong Kong stock markets.
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Wang, Yuenan, and yangyn14@hotmail com. "The diversification benefits and the risk and return relationships in the Chinese A-share market." RMIT University. Economics, Finance and Marketing, 2006. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20080103.093949.
Full textAbstract:
China's rapid economic growth and the development of its domestic stock market have attracted considerable attention from foreign investors. China's economic financial expansion, however, has emerged from an environment of state planning and radical socialist ideology. With a view of providing investors with a better understanding of the risk and return relationship in the Chinese A-share market over the past decade, this thesis adapts several empirical models to the circumstances in China and conducts four empirical analyses. First, in order to rationalize foreign investors' entry into the A-share market, the thesis compares the diversification benefits in three China-related stock markets, namely the A-share, the B-share and the H-share markets in a mean-variance framework using daily, weekly and monthly data respectively. The results suggest that of the three stock markets, the B-share market generates the highest average annual returns while the A-share market has the most significant diversification benefits regardless of whether the analysis is undertaken implementing a traditional mean-variance framework or a downside risk framework. Next, an empirical analysis using the Fama and MacBeth two-pass procedure is undertaken to test the relationship between beta, firm factors and stock returns. Similar to the findings in other stock markets, the results of this analysis show that the static betas for individual stocks fail to capture variation in stock returns in the A-share market. In contrast, the effects of book-to-market and trading volume are significant in the sample period. However, the fact that none of these factors have a persistent role in explaining stock returns suggests a possible change in the investment philosophy of Chinese domestic investors over the past decade. In the third analysis, two global betas are incorporated into the cross-sectional regressions in a bid to examine the integration or segmentation of the A-share market with the world and Hong Kong stock markets. Specifically, both time-varying betas and static betas are used in the analysis. The results suggest that there is no beta effect and the A-share marke t is totally segmented from both the world and Hong Kong stock markets. Finally, when the segmentation and integration status of the A-share market is further examined using the Maximum Likelihood Estimation framework without beta estimation and the assumption of a linear relationship between beta and stock returns, the findings suggest that the A-share market is becoming increasing integrated with the B-share and the Hong Kong stock markets.
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Wu, Chi Kuen Simon. "Stock market integration between the Hong Kong SAR and the People's Republic of China : the use of a revised 'H' share model and enhanced institutional support." Thesis, Queen Mary, University of London, 2006. http://qmro.qmul.ac.uk/xmlui/handle/123456789/1761.
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Bilateral, multilateral and regional linkages between stock exchanges generate increased sources of funds, investor return and product choice. Such associations can also lower transaction costs in both initial listing and subsequent trading, increase liquidity more generally in the secondary market and enhance investor protection and confidence in the stability and reputation of the market and the status of companies listed on the market. This thesis argues that the integration of the stock markets between The Special Administrative Region of Hong Kong ("Hong Kong") and the People's Republic of China (CTRC) is therefore a desirable objective and investigates how a more successful and substantial degree of integration could be achieved in this area. Integration, in particular, requires harmonization of laws and regulations. In 1993,H shares issued by PRC companies were first allowed to cross-list on the Hong Kong Stock Exchange. This listing was made possible by the introduction of a new set of legal and operational rules promulgated in both the PRC and Hong Kong. This thesis expounds four models of integration, the H Share Model, the System Harmonization Model, the Mixed Harmonization and Mutual Recognition Model, and the Full Harmonization Model and argues that H share regulations are an effective way to further integration despite problems inherited from the PRC's 'pre-open door' policy. In considering other potential models, the European Union and the United States capital market are also considered as potential models for further integration of the PRC and Hong Kong stock markets despite the inherent limitations of the latter model. It is also proposed that enhanced institutional support can be used as an effective means of accelerating the integration process. Investigating both the feasibility and possible implementation of market integration within an appropriate institutional framework ensures an autonomous, legal and independent environment separate from the political realm.
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Tatarer, Ozge. "The Export Performance Of The Turkish Manufacturing Industries With Respect To Selected Countries." Master's thesis, METU, 2004. http://etd.lib.metu.edu.tr/upload/12605376/index.pdf.
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The objective of this paper is to analyze the export performance of Turkish
manufacturing industries in the East-Asian countries between the years 1992-2002.
SITC (Rev.3), three digit data were used in calculations and three methodologies
were applied in order to discover promising sectors of the Turkish exports. Constant
Market Share Analysis was used to explain the causes of the change in the market
shares of the exports of Turkey from one period to another. Revealed comparative
advantage indices were calculated to determine sectors in which Turkey had
comparative advantage. Grubel-Lloyd Index was used to determine the rate of intraindustry
trade. Results signal important changes in the export structure of Turkey.
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Mak, Ping-kuen. "Financial performance of H shares in the Hong Kong stock market /." Hong Kong : University of Hong Kong, 1997. http://sunzi.lib.hku.hk/hkuto/record.jsp?B18837359.
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Mak, Ping-kuen, and 麥炳權. "Financial performance of H shares in the Hong Kong stock market." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1997. http://hub.hku.hk/bib/B31268213.
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Hua, Jian. "La découverte du prix sur les marchés boursiers chinois." Thesis, Aix-Marseille, 2014. http://www.theses.fr/2014AIXM2014.
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Cette thèse se compose de trois essais autonomes sur le marché boursier chinois. Le premier essai examine le processus de la découverte du prix des actions A et H pour des sociétés chinoises double cotées à la fois sur les bourses de Shanghai/Shenzhen et de Hong Kong durant les sessions d'échange communes. Nous mettons en évidence une relation de long terme entre les prix des actions A et H. En appliquant la méthode de l'information partagée de Hasbrouck (1995), il apparaît, quand la Chine adoptait un régime de change fixe, le marché domestique contribuait plus d'information à la découverte du prix que le marché étranger; tandis que sous un régime de change flexible, c'est le marché étranger qui dominait dans la découverte du prix.Le deuxième essai prenant les réformes chinoises du régime de Juillet 2005 et de Juillet 2008 comme des événements spéciaux, il étudie si ces changements de régime de change affectent l'arbitrage entre les marchés des actions A et H. En comparant les niveaux des impacts des facteurs idiosyncratiques sur la décote de prix des actions A et H avant et après les changements de régime, les résultats montrent que la relaxation des contrôles des changes ne favorise pas l'arbitrage entre les deux marchés. Par ailleurs, ce changement de régime de change introduit un risque de change important dans la stratégie des arbitragistes.Le troisième essai aborde la transmission d'information en séance et hors séance de cotation en termes de rendements et de volatilités entre la Chine, l'Amérique et l'Europe. Le problème du synchronisme est considéré avec soin dans la modélisation bivariée avec la Chine comme référence avec des données journalièresThis thesis consists of three self-contained essays on the Chinese stock market. The first essay examines the price discovery process of Chinese dual-listed firms on the A-share and H-share markets during overlapping trading hours. We provide evidence that there exists a long-term relationship between the A- and H-share markets. By applying the information share model of Hasbrouck (1995), we find that: under a fixed exchange rate, the A-share market contributes more innovations in price discovery than the H-share market; while under a managed floating exchange rate, it is the H-share market that plays a dominant role in the price discovery process.In the second essay, by using the exchange rate regime changes of July 21, 2005 and July 01, 2008 of as special events, we examine whether changes in exchange-rate regime affect the intensity of inter-market arbitrage between A- and H-share markets. By comparing the significance of the impact of idiosyncratic factors on the H-share discount before and after the changes of exchange rate regime, the results show that the relaxation of exchange controls does not encourage inter-market arbitrage between the Chinese mainland and Hong Kong markets. Further, the switch from a fixed to a floating exchange-rate regime introduces an important exchange rate risk to arbitrageurs.The last essay studies daytime and overnight information transmission in terms of returns and volatility between China, America and Europe. The asynchronicity issue is carefully considered in the bivariate modelling with China as benchmark with daily data
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Hsu, Ching-Chih, and 許靜枝. "Influence and Comparisons between company''s IPOs in Hong Kong H-Shares Market and in China A-Shares Market." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/56761844286286329721.
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碩士淡江大學
財務金融學系碩士在職專班
97
This study investigate the Chinese industry in the A-share and Hong Kong H-share listed companies of two places, which one have the advantage after stock price rate of returns analysis during the market honeymoon, short-term, and long-term. The study was from April 1, 1999 until June 30, 2008 with industry that had listed on Hong Kong H-share and been also already listed in the Chinese A-share was the research object. Use the Incident Study, it relatively has the advantage that what look over H-shares or the A-share stock price remuneration, and offers fund-raiser and investor to do it for the investment reference. The result is as follows: First, according to our company IPO analysis for short, middle, and long-term stock price rate of returns, the result of study finds, the short-term remuneration A-share has advantages, but the long-term remuneration H-share has advantage that remuneration grows up steadily. Second, industries comparison: after analyze with the rate of increase of the long-term remuneration, the result shows, Hong Kong investors relatively have a partiality for the banking insurance of stock. China investors relatively have a partiality for the transportation of stock. Third, the sample hosts distributors are famous securities company. The reputations of famous securities company and investors’ trust have correlation with each other. Fourth, the sample like main index composition stock, representing its trading volume and stock price and market index becomes positive correlation, so the composition stock is often investor''s first-selected target. Fifth, the sample is listed on A-share is mostly after the 2005.August. RMB began to appreciate to the exchange rate of U.S. dollar at that time, external investors channeled into the fund successively, and domestic idle fund was plentiful. China security market began to have good market period. During the research, the positive remuneration of the stock price is obvious. Sixth, during SARS epidemic situation, the annual rate of returns shows the negative number, the rate of returns replies the normal level while striding.This result shows, when the special incident happens, the stock price certainly will be influenced, but the incident will go over eventually. A short-term will exert an influence to remuneration; however, it can come back normal remuneration in a long-term.
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Chen, Wei-Chun, and 陳韋均. "The Effects of Market Segmentation Stock Return─Evidence from Chinese A、B Shares and Hong Kong H Shares." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/30798025018054076573.
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碩士輔仁大學
應用統計學研究所
88
Abstract The Chinese listing companies have issued A shares to domestic investors and issued B shares and H shares to foreign investors. The government of the Mainland China separate A shares and B shares, A shares and H shares into different trading markets, which forms market segmentation. It is the main purpose of this thesis that we use adjusted event study to discuss whether market segmentation is the cause to abnormal return in the way of Merton’s Investor Recognition Hypothesis and Amihudand Merdelson’s Liquidity Hypothesis. In the field of event study, it is proved most adequate to set the subscription day for the event day, the data before the estimating period for the estimating period, and to set the moving β method for the risk-estimating method. There are several reasons to support these settings. First, information has already been revealed before listing day, and the systematic risk has changed after the event day. Second, many researchers have proved that the risk will change with time. Thus, we can’t get the real abnormal return in traditional event study method. There are some evident results for the effects of abnormal return under the market segmentation of Mainland China. First, the impact of A shares on the B shares, positive cumulative abnormal returns are observed on 12 days before the date of the subscription day. The reason is that initial listing of B-shares issue takes more complete information to disclose, and it is beneficial for the investors of A shares. Therefore, A shares appear significantly positive cumulative abnormal returns. Second, the impact of B shares on the A shares is little. It is because disclosed new information of initial listing A-shares is not very much, so the cumulative abnormal return is not significant. Third, No cumulative abnormal returns of Hong Kong H hares are observed , so the impact of A shares on H shares is not significant. For the explanation factors of the abnormal returns under listing separate shares for trading by foreign and domestic investors, all results have been proved to accord with Merton’s Investor Recognition Hypothesis and Amihudand Merdelson’s Liquidity Hypothesis. The explanation factors of the initial listing of B-share issues on the abnormal return of already listed A shares are the change in relative market value and the equity ratio of A shares. And the explanation factors of the initial listing of A-share issues on the abnormal return of already listed B shares are the size of company, turnover and the premium ratio of A shares.
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LUO, JHIH-WEI, and 駱志威. "Correlation and Price Discount between A Shares and H Shares in Chinese and Hong Kong Stock Markets." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/81996786691609376478.
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碩士國立臺北大學
企業管理學系
98
In the early period of China’s stock market, transactions of A shares in China were limited to Chinese citizens, while transactions of H shares in Hong Kong were limited to HK citizens, or foreigners from other countries. However, these restrictions have been gradually lifted in recent years, progressively shifting China’s stock market. Thus study adopts the Johansen co-integration test, the Granger causality test, and the panel data model to analyze the collected data from 2005 to 2009, discuss the long- term trends of A and H shares, the interaction between them, and the influence of the price spread factor before and after exercising a qualified domestic institutional investor (QDII) policy. The results represent a more co-integrational relationship between the two segmented stock prices after enforcing the policy, which indicates that the segmentation of the two markets had gradually shrunk. In addition, in the price signaling aspect, the price of A shares exhibited a leading position rather than the price of H shares. On the other hand, information asymmetry, investment demand difference hypothesis, and the liquidity of the stock market, significantly affected the price spread of A and H shares, powerfully explaining the price difference between the two markets.
Books on the topic "H-share Market"
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Corporate governance and China's H-share market. Cheltenham, UK: Northampton, MA, 2008.
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de Jonge, Alice. Corporate Governance and China’s H-Share Market. Edward Elgar Publishing, 2008. http://dx.doi.org/10.4337/9781848442788.
Full textConference papers on the topic "H-share Market"
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Pan, Yue, and Yi-yi Dai. "Investigation of non-linear granger causality between China mainland stock market and Hong Kong H-share market." In 2008 International Conference on Management Science and Engineering (ICMSE). IEEE, 2008. http://dx.doi.org/10.1109/icmse.2008.4669064.
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Zhou, Yi, Xianda Shang, Zhuoli Zhang, and Jianwu Lin. "The Information Flow between A and H Share Stock markets." In 2019 IEEE International Conference on Industrial Cyber Physical Systems (ICPS). IEEE, 2019. http://dx.doi.org/10.1109/icphys.2019.8780326.
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Islam, Nokibul, Miguel Jimarez, Ahmer Syed, TaeKyeong Hwang, JaeYun Gim, and WonJoon Kang. "Lead Free Flip Chip Reliability for Various Package Types." In ASME 2011 Pacific Rim Technical Conference and Exhibition on Packaging and Integration of Electronic and Photonic Systems. ASMEDC, 2011. http://dx.doi.org/10.1115/ipack2011-52260.
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Flip Chip (FC) technology has now become the mainstream solution for high performance packages. From commercial gaming machines to high reliability servers, the FC package is gaining more market share over traditional packaging technologies, such as wire bond. Extensive research has been carried out to make the flip chip more robust, smaller foot prints, and excellent performance. FC packages are fabricated typically in two main configurations. Bare die FC packages leave the non active side of the die exposed. This allows the customer to apply their preferred heat dissipation scheme during board level attach. Lidded FC packages use a metallic lid attached to the die. Bare die package can be further subdivided into bare die underfilled package and bare die flip chip molded ball grid array (FCmBGA) package. Each of these packaging configurations has advantages as well as disadvantages. FCmBGA uses molding compound or EMC instead of capillary underfill, to protect FC die, and eliminate the need for a lid. Package warpage reduced a lot by adding a lid with the bare die FC package. However, the package and board level reliability for the above package types are still debatable. In this study test vehicles with three package types with bumps and BGAs are daisy chain to measure in situ data during accelerated tests. Impact of standard vs. low CTE (coefficient of thermal expansion) core substrate, accelerated temperature cycle conditions (temperature cycle condition “B”, “H”, and “J” according to JEDEC), and package level vs. package mounted on the board level reliability will be investigated. Comprehensive reliability data will help to select the right package type for next generation large die large body flip chip application.
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Lv, Wen-dong, and Liang Tian. "Does stock pricing power return to a shares market: Evidence from the “A+H” shares?" In 2008 International Conference on Management Science and Engineering (ICMSE). IEEE, 2008. http://dx.doi.org/10.1109/icmse.2008.4669066.
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Olson, Steven T., Ingemar Bjork, Paul A. Craig, Joseph D. Shore, and Jean Choay. "ROLE OF THE HIGH-AFFINITY PENTASACCHARIDE IN HEPARIN ACCELERATION OF ANTITHROMBIN III INHIBITION OF THROMBIN AND FACTOR Xa." In XIth International Congress on Thrombosis and Haemostasis. Schattauer GmbH, 1987. http://dx.doi.org/10.1055/s-0038-1642829.
Full textAbstract:
The high-affinity heparin pentasaccharide (H5) and an 8000 Mr high-affinity heparin (H26) have been compared with respect to their interaction with antithrombin III (AT) and their accelerating effect on AT inhibition of thrombin (T) and factor Xa by rapid kinetic and equilibrium binding studies at pH 7.4, 25°C. Kds of .068 μM at I 0.15 and 0.57 μM at I 0.3 were determined for tne AT-H5 interaction, which were 5 and 2.5-fold weaker, respectively, than affinities determined for H26. Comparison of the kinetics of binding of H5 and H26 to AT at I 0.15 under pseudofirst order conditions ([H]o>> [AT]o) demonstrated a saturable dependence of the observed rate constant for both reaction with indistinguishable limiting rate constants of 700 +/-120 s-1 and 520 +/-90 s-1 , but somewhat different Kds for the initial binding interaction of 20 and 29 μM for H5 and H26, respectively. These results indicate that H5 induces the same conformational change in AT as the larger heparin, but that the rate of reversal of this conformational change is greater for H5 which is the basis for its weaker AT affinity. Bimolecular rate constants for neutralization of factor Xa and thrombin by AT-H5 and AT-H26 complexes were determined by p-aminobenzamidine displacement under pseudo-first order conditions([AT-H] >> [T]o or [Xa]o). I-in-dependent values of .62 μM-1 s-1 were obtained for Xa inhibition by AT-H5 at I 0.15 and 0.3, compared to I-dependent values of 1.4 and 0.91 μM-1 s-1 for AT-H26. For thrombin inhibition by AT-H5, and I-independent enhancement of 1.6-fold in the bimolecular rate constant from .0098 to .016 μM-1 s-1 was observed, in sharp contrast to the marked I-independent enhancement by AT-H26 of the bimolecular rate constant ranging from 4000 to 200-fold at I 0.15 and 0.3, respectively. These results are consistent with a primary ionic strength-independent contribution of the AT conformational change to heparin enhancement of factor Xa but not thrombin neutralization by AT, with an ionic strength-dependent component for both reactions, compatible with a differential role for a protease-heparin interaction. Supported by grant HL-30237
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Antonarakis, E. "The Molecular Genetics of Hemophilia A Stylianos." In XIth International Congress on Thrombosis and Haemostasis. Schattauer GmbH, 1987. http://dx.doi.org/10.1055/s-0038-1643980.
Full textAbstract:
Hemophilia A is a common X linked hereditary disorder of blood coagulation due to deficiency of factor 8. The gene for factor 8 has been cloned and characterized (Nature 312:326-342, 1984). It is divided into 26 exons and 25 introns and spans 186 kb of DNA. The CGNA is 9 kb and codes for 2351 amino acids. The first 19 amino acids comprise the secretory leader peptide and the mature excreted polypeptide consists of 2332 amino acids. The nucleotide sequence of the exons and the exon-intron junctions is known and the complete amino acid sequence has been deducedSeveral laboratories have used cloned factor 8 DNA sequences as probes to characterized mutations that are responsible for hemophilia A in certain pedigrees. These mutations have been characterized by restriction analysis, oligonucleotide hybridization, cloning and sequencing of DNA from appropriate patientsIn about 500 patients with hemophilia A examined, the molecular defect has been recognized in 39. Both gross alterations (mainly deletions) and point mutations of the factor 8 gene have been found.A total of 19 different deletions have been observed. No two unrelated pedigrees share the same exact deletion.The size of the deleted DNA varies from 1.5 kb to more than 210 kb. All but one of these deletions are associated with severe hemophilia A. A deletion of 6 kb that contains exon 22 only is associated with moderate hemophilia. Some deletions are present in patients with inhibitors to factor 8. No correlation of the size or the position of the deletions can be found with the presence of inhibitors to factor 8.A total of 20 point mutations have been characterized. All are recognized by restriction analysis and involve Taq I sites. All are mutations of CpG dinucleotides and generate nonsense or missence codons. Unrelated pedigrees have the same single nucleotide change because of independent origin of the same mutation. In many instances de novo occurrence of a point mutation has been observed. CpG dinucleotides are hot spots for mutation to TG or CA presumably because of spontaneous deamination of methylcytosine. Some point mutations are present in patients with inhibitors but no correlation of the site of mutation and inhibitor formation has been found. The nonsense mutations are present in patients with severe hemophilia A. A missense mutation (Arg Gin) in exon 26 was found in a patient with mild hemophilia while another Arg Gin mutation in exon 24 has been observed in a patient with severe disease. The creation of a donor splice site in IVS 4 of factor 8 gene has been observed in a patient with mild hemophilia.Few DNA polymorphisms within the factor 8 gene and two other closely linked polymorphisms have been used for carrier detection and prenatal diagnosis of hemophilia A. These DNA markers are useful in more than 90% of families at risk for hemophilia A.The author thanks Drs. Gitschier, Din, Olek, Pirastou, Lawn for communication of their data prior to publication.The hemophilia project at Johns Hopkins was supported by an Institutional grant and NIH grant to S.S.A. and Haig H. Kazazian, Jr.