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This study builds on the paper by Arquette, Brown, and Burdekin (2008) and asks whether the facto... more This study builds on the paper by Arquette, Brown, and Burdekin (2008) and asks whether the factors which they find to be significant in influencing the differential between the share prices of Chinese securities traded on their home market in Shanghai versus share prices observed offshore in Hong Kong and New York have varying degrees of influence when compared across industries. This paper focuses on Chinese companies listed on both the Shanghai and Hong Kong Stock Exchanges and finds that the proxy variables of expected exchange rate change, relative market sentiment, and relative company sentiment are significant in determining the average discount observed and that their effects do indeed vary significantly from industry to industry. 'Consumer goods' and 'consumer services' are combined to form a 'consumer goods and services' industry. This gives a total of nine categories (See Table 1): Basic Materials, Consumer Goods and Services, Commercial Banks, Non-Banks, Health Care, Industrials, Oil and Gas, Technology, and Utilities.
Asian Journal of Andrology, 2015
Asian Journal of Andrology, 2015
This study builds on the paper by Arquette, Brown, and Burdekin (2008) and asks whether the facto... more This study builds on the paper by Arquette, Brown, and Burdekin (2008) and asks whether the factors which they find to be significant in influencing the differential between the share prices of Chinese securities traded on their home market in Shanghai versus share prices observed offshore in Hong Kong and New York have varying degrees of influence when compared across industries. This paper focuses on Chinese companies listed on both the Shanghai and Hong Kong Stock Exchanges and finds that the proxy variables of expected exchange rate change, relative market sentiment, and relative company sentiment are significant in determining the average discount observed and that their effects do indeed vary significantly from industry to industry. 'Consumer goods' and 'consumer services' are combined to form a 'consumer goods and services' industry. This gives a total of nine categories (See Table 1): Basic Materials, Consumer Goods and Services, Commercial Banks, Non-Banks, Health Care, Industrials, Oil and Gas, Technology, and Utilities.
Asian Journal of Andrology, 2015
Asian Journal of Andrology, 2015