The Trading Behavior of iShares Listed on the Honk Kong Stock Exchange
Gerasimos G. Rompotis, National and Kapodistrian University of Athens, 25 Ypsilantou Street, Peristeri, Athens 121 31, Greece, geras3238@yahoo.gr
Abstract
This chapter examines the trading behavior of iShares listed on the Hong Kong Stock Exchange. The issues examined concern the performance of iShares, risk, tracking error, and pricing efficiency expressed by the premium/discount between iShares’ trading prices and net assets values. The results obtained indicate that iShares underperform their benchmarks and are considerably volatile. Moreover, the iShares present a significant tracking error as well as a persistent premium/discount to their net assets value. ...
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