Residual state ownership and stock market integration: evidence from Chinese partly privatised firms
This paper assesses China’s integration with the global stock market over its privatisation process, by examining the asset pricing mechanisms of Chinese firms under different levels of state ownership within a two-beta CAPM framework. We derive time-varying national and global systematic risks for...
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| Format: | Article |
| Language: | English |
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Elsevier
2018
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| Online Access: | http://eprints.nottingham.ac.uk/43791/ http://eprints.nottingham.ac.uk/43791/ http://eprints.nottingham.ac.uk/43791/ http://eprints.nottingham.ac.uk/43791/1/residual%20state%20owevership%20and%20stock%20market%20integration.pdf |