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Mainstream research has rationalized China's stock market on the basis of paradigms such as the institutional approach, the efficient market hypothesis, and corporate valuation principles. The deviations from such paradigms have been analyzed as puzzles of China's stock market. Girardin and Liu explore to what extent, in the perspective of Chinese cultural and historical characteristics, far from being puzzles, these 'deviations' are rather the symptoms of a consistent strategy for the design, development and regulation of a government-dominated financial system.
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Produktbeschreibung
Mainstream research has rationalized China's stock market on the basis of paradigms such as the institutional approach, the efficient market hypothesis, and corporate valuation principles. The deviations from such paradigms have been analyzed as puzzles of China's stock market. Girardin and Liu explore to what extent, in the perspective of Chinese cultural and historical characteristics, far from being puzzles, these 'deviations' are rather the symptoms of a consistent strategy for the design, development and regulation of a government-dominated financial system.

This book will help investors, observers and researchers understand the hidden logic of the design and functioning of China's modern stock market, taking a political economy view.

Autorenporträt
Eric Girardin is Professor of Economics at Aix-Marseille University and Researcher at Aix-Marseille School of Economics, France. He is visiting Professor at Beijing University-HSBC Business School, UK. He was a member of the Advisory Council of the Asian Development Bank Institute (Oct 2004-Sept 2012). Zhenya Liu is Professor of Finance and Econometrics at the School of Finance, Renmin University of China, Beijing and Research Associate at CERGAM, Aix-Marseille University, France. He previously worked as Professor and Lead of Applied Quantitative Financial Economics at the Business School of the University of Birmingham, UK.