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主讲人 |
K.C. John Wei |
简介 |
<p>The Shanghai-Hong Kong stock connect program “creates” demand shocks for connected stocks in both Hong Kong and Shanghai markets. We find that compared to unconnected stocks with similar firm characteristics, connected stocks in Shanghai experience a value appreciation of 1.6% (13 billion USD) over the seven-day announcement window and a significant increase in turnover and volatility after the announcement. More importantly, the value appreciation and the increases in turnover and in volatility are all significantly larger for stocks with higher speculative beta. Our findings are consistent with the theoretical prediction that the demand elasticity of price increases speculative trading.</p> |
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主讲人简介 |
<p>Chair Professor of Financial Economics, School of Accounting and Finance, Hong Kong Polytechnic University</p>
<p> </p>
<p><a href="/Upload/File/2016/9/20160930071428103.pdf"><span style="color: rgb(0,0,255)"><u><strong>Prof. K.C. John Wei's CV</strong></u></span></a></p> |
期数 |
厦门大学金融经济学系列讲座2016秋季学期第二讲（总第21讲） |
