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The Real Value of China's Stock Market
16 references·8 citing·20 second hop
The Real Value of China's Stock Market (2014)The Real Value of China's Stock MarketLaw, finance, and economic growth in China (2005)Law, finance, and economic gr…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Information asymmetry, corpor…Investor protection and corporate governance (2000)Investor protection and corpo…Law and Finance (1998)Law and FinanceOn Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Returns to Buying Winners and…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Continuous Auctions and Insider Trading (1985)Continuous Auctions and Insid…Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Bid, ask and transaction pric…The relationship between return and market value of common stocks (1981)The relationship between retu…On the Impossibility of Informationally Efficient Markets (1980)On the Impossibility of Infor…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Efficient Capital Markets: A Review of Theory and Empirical Work (1970)Efficient Capital Markets: A …The systemic risk of China’s stock market during the crashes in 2008 and 2015 (2019)The systemic risk of China’s …Does Asymmetric Information Drive Herding? An Empirical Analysis (2019)Does Asymmetric Information D…Choice with Limited Capacity (2019)Choice with Limited CapacityThe effects of a mixed approach toward management earnings forecasts: Evidence from China (2017)The effects of a mixed approa…Is the idiosyncratic volatility anomaly driven by the MAX or MIN effect? Evidence from the Chinese stock market (2017)Is the idiosyncratic volatili…Anomalies in Chinese A-Shares (2017)Anomalies in Chinese A-SharesThe effect of accounting academics in the boardroom on the value relevance of financial reporting information (2016)The effect of accounting acad…Individual Auditor Conservatism After CSRC Sanctions (2014)Individual Auditor Conservati…What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)A five-factor asset pricing model (2014)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Does the Stock Market Overreact? (1985)Multifactor Explanations of Asset Pricing Anomalies (1996)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Noise Trader Risk in Financial Markets (1990)Investor Psychology and Security Market Under‐ and Overreactions (1998)Editor's Choice Digesting Anomalies: An Investment ApproachLiquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Users of the world, unite! The challenges and opportunities of Social Media (2009)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1998Law and Finance17,902 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1970Efficient Capital Markets: A Review of Theory and Empirical Work13,616 cited
  • 1993Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency11,575 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 1985Continuous Auctions and Insider Trading9,626 cited
  • 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature7,391 cited
  • 2000Investor protection and corporate governance6,847 cited
  • 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders6,132 cited
  • 1981The relationship between return and market value of common stocks5,928 cited
  • 1980On the Impossibility of Informationally Efficient Markets5,122 cited

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  • 2005Law, finance, and economic growth in China4,481 cited
  • Cited by

    • 2017Anomalies in Chinese A-Shares53 cited
    • 2017The effects of a mixed approach toward management earnings forecasts: Evidence from China50 cited
    • 2016The effect of accounting academics in the boardroom on the value relevance of financial reporting information46 cited
    • 2019The systemic risk of China’s stock market during the crashes in 2008 and 201546 cited
    • 2017Is the idiosyncratic volatility anomaly driven by the MAX or MIN effect? Evidence from the Chinese stock market40 cited
    • 2019Does Asymmetric Information Drive Herding? An Empirical Analysis33 cited
    • 2014Individual Auditor Conservatism After CSRC Sanctions25 cited
    • 2019Choice with Limited Capacity1 cited