The IPO process is a way for companies to improve their corporate governance and for investors to assess company quality.This paper posits that investor choices vary with differences in investment ability and experien...The IPO process is a way for companies to improve their corporate governance and for investors to assess company quality.This paper posits that investor choices vary with differences in investment ability and experience.Three groups of investors with large holdings,namely individual investors,bluechip institutional investors and underperforming institutional investors,are compared by their use of three types of corporate governance information:board characteristics,equity structure and affiliated relationships.Overall,institutional investors make greater use of corporate governance information than individual investors,with blue-chip institutional investors making the greatest use.Further,bull-bear markets exert a significant influence on the behavior of both individual and underperforming institutional investors.These results enrich the IPO literature and contribute to optimal social fund allocation in the stock market.展开更多
In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return...In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return data of four market indexes and 16 industry sectors for the period from October 1, 1997 to April 16, 2009. We do not find significant Monday anomalies of the market index, large capitalization stock index and all industry sectors except for the property sector. Our finding is inconsistent with the literature on the New Zealand stock market. However, we find that the mid and small capitalization stocks have significant negative returns on Mondays than on other weekdays, which is consistent with the previous studies in some other markets.展开更多
As it is known a complete coverage of cotton(Gossypium hirsutum L.) genome with hypoaneuploids is not still realized.Therefore the detection of new types of aneuploids especially in different cytogenetic collections i...As it is known a complete coverage of cotton(Gossypium hirsutum L.) genome with hypoaneuploids is not still realized.Therefore the detection of new types of aneuploids especially in different cytogenetic collections is very useful.In Uzbekistan,long-term investigations towards development展开更多
The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep fo...The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks展开更多
基金sponsored by the National Natural Science Foundation of China(Nos.71272152 and 71172180)
文摘The IPO process is a way for companies to improve their corporate governance and for investors to assess company quality.This paper posits that investor choices vary with differences in investment ability and experience.Three groups of investors with large holdings,namely individual investors,bluechip institutional investors and underperforming institutional investors,are compared by their use of three types of corporate governance information:board characteristics,equity structure and affiliated relationships.Overall,institutional investors make greater use of corporate governance information than individual investors,with blue-chip institutional investors making the greatest use.Further,bull-bear markets exert a significant influence on the behavior of both individual and underperforming institutional investors.These results enrich the IPO literature and contribute to optimal social fund allocation in the stock market.
文摘In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return data of four market indexes and 16 industry sectors for the period from October 1, 1997 to April 16, 2009. We do not find significant Monday anomalies of the market index, large capitalization stock index and all industry sectors except for the property sector. Our finding is inconsistent with the literature on the New Zealand stock market. However, we find that the mid and small capitalization stocks have significant negative returns on Mondays than on other weekdays, which is consistent with the previous studies in some other markets.
文摘As it is known a complete coverage of cotton(Gossypium hirsutum L.) genome with hypoaneuploids is not still realized.Therefore the detection of new types of aneuploids especially in different cytogenetic collections is very useful.In Uzbekistan,long-term investigations towards development
文摘The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks
