Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/31401
Title: Harmonious stock prices
Authors: Zhu, K
Yu, W
Sun, H
Wang, WJ
Keywords: Firm-specific information
Market efficiency
Stock price synchronicity
Issue Date: 2014
Publisher: Higher Education Press
Source: Frontiers of business research in China, 2014, v. 8, no. 1, p. 1-17 How to cite?
Journal: Frontiers of business research in China 
Abstract: Stock price movements in China still remain highly harmonious, in spite of the many significant regulatory and structural changes over the recent years. A survey of the literature reveals that harmony in the stock price movements is related to a few salient features in China's capital market: high ownership concentration, high incidence of the use of pyramidal ownership structure, significant state ownership, and a lack of active institutional investors. In addition, we also point out that harmonious stock prices may generally result from low intensity of private information acquisitions by risk arbitrageurs.
URI: http://hdl.handle.net/10397/31401
ISSN: 1673-7326
EISSN: 1673-7431
DOI: 10.3868/s070-003-014-0001-4
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