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Chinese A and B Shares

In: Encyclopedia of Finance

Author

Listed:
  • Yan He

    (Indiana University Southeast)

Abstract

A and B shares exist in the Chinese stock markets. A shareholders are domestic investors and B shareholders are foreign investors. During the early-and mid-1990s, B shares were traded at a discount relative to A shares, and B-share returns were higher than A-share returns. It is found that B-share market has persistent higher bid-ask spreads than the A-share market and traders in the B-share market bear higher informed trading and other transaction costs. In addition, the higher volatility of B-share returns can be attributed to the higher market making costs in the B-share market.

Suggested Citation

  • Yan He, 2022. "Chinese A and B Shares," Springer Books, in: Cheng-Few Lee & Alice C. Lee (ed.), Encyclopedia of Finance, edition 0, chapter 16, pages 713-717, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-91231-4_16
    DOI: 10.1007/978-3-030-91231-4_16
    as

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