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The Efficiency of China's Stock Market
book

The Efficiency of China's Stock Market

by Shiguang Ma
November 2017
Intermediate to advanced content levelIntermediate to advanced
302 pages
16h 35m
English
Routledge
Content preview from The Efficiency of China's Stock Market
236
The Efficiency o f China's Stock Market
No t-values in Panel B of Table 8.6 are larger than 1.96 in absolute value, which
shows that the B-shares prices do not significantly react to the announcement of
rights approvals at the 5% significance level. By contrast, the t-values in Panel C of
Table 8.6 are below -1.96 or -2.58 for the 20 days after the event date, which
shows significantly negative returns are generated in the 20 days after the
announcement of rights approvals. Therefore, we conclude that the B-shares prices
cannot fully and instantly reflect the information of right approvals at ...
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Publisher Resources

ISBN: 9781351146913