注册 登录

所属栏目：资本市场/市场微观结构

Asymmetric Information and Market Collapse:Evidence from the Chinese Market
认领作者 认领作者管理权限
发布日期：2011年03月09日 上次修订日期：2011年03月09日
Paresh Kumar Narayan,    paresh.narayan@deakin.edu.au Deakin University Xinwei Zheng     Deakin University Susan Sharma     Deakin University

摘要

In this paper, using data for the period January 1995 to May 2009 for the Shanghai stock exchange (SHSE), we show that aggregate illiquidity is a priced risk factor. We develop the relationship between the illiquidity factor, asymmetric information, and market collapse. Our empirical results show that while the illiquidity factor is a source of asymmetric information on the SHSE, asymmetric information does not trigger a market collapse.
展开

关键词：

Illiquidity Factor Asymmetric Information Market Collapse

下载论文 在线阅读

论文统计数据

  • 浏览次数：

    4606

  • 下载次数：

    137

相关文献

1Bank Rent Extraction, Funding Competition, and the Effects of Growth Opportunities on Debt 2Does the Best Always Prevail? A Model of Project Selection under Asymmetric Information an 3Price Discovery in the Round-the-Clock U.S. Treasury Market 4Asymmetric Information and Market Collapse:Evidence from the Chinese Market 5Ambiguous Volatility, Asymmetric Information and Irreversible investment

Paresh Kumar Narayan,; Xinwei Zheng; Susan Sharma Asymmetric Information and Market Collapse:Evidence from the Chinese Market (2011年03月09日) https://www.cfrn.com.cn/index.php/lw/13571.html

选择要认领的作者1
身份验证1
确认
取消
0.188337s