Risk-sharing, market imperfections, asset prices: Evidence from China’s stock market liberalization
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DOI: 10.1016/j.jbankfin.2017.06.003
Abstract: We examine the roles of risk-sharing and other factors in stock price revaluation during a recent liberalization episode in China. Consistent with the theoretical prediction that liberalizations reduce systematic risk, we find that risk-sharing explains… read more here.
Keywords: risk sharing; liberalization; market; sharing market ... See more keywords