The geography of equity listing and financial centre competition in mainland China and Hong Kong
Abstract
This study examines the changing competitiveness of financial centres in mainland China and Hong Kong based on the geography of equity listing of mainland Chinese firms. Pre-listing firm characteristics are used to explore firmsââ¬â¢ motives for listing on a particular exchange and whether these motives have changed over time. The results show that Hong Kongââ¬â¢s prominence as an international financial centre is attracting the largest and, recently, also the best performing mainland Chinese state-owned enterprises to go public. Less differentiation exists between the competitiveness of Shanghai and Shenzhen, although the renewed strategy of the Shenzhen stock exchange to attract smaller firms appears to be successful.(This abstract was borrowed from another version of this item.)
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Article provided by Oxford University Press in its journal Journal of Economic Geography.
Volume (Year): 12 (2012)
Issue (Month): 4 (July)
Pages: 899-922
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Related research
Keywords:Other versions of this item:
- Karreman, B. & Knaap, G.A. van der, 2010. "The Geography of Equity Listing and Financial Centre Competition in Mainland China and Hong Kong," Research Paper ERS-2010-033-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
References
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- Marco Pagano & Ailsa A. Röell & Josef Zechner, 2002.
"The Geography of Equity Listing: Why Do Companies List Abroad?,"
Journal of Finance,
American Finance Association, vol. 57(6), pages 2651-2694, December.
- Pagano, Marco & Röell, Ailsa A & Zechner, Josef, 2001. "The Geography of Equity Listing: Why Do Companies List Abroad?," CEPR Discussion Papers 2681, C.E.P.R. Discussion Papers.
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