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The Hong Kong equity market and an institutional framework for asset pricing

journal contribution
posted on 2023-06-07, 23:18 authored by Yiu-Wah Ho, Roger StrangeRoger Strange, Jenifer Piesse
Given the potential implications of market structure for asset pricing, this paper examines the structural and institutional features of the Hong Kong equity market and their relevance to explaining market behaviour. It was found that the Hong Kong market appears less perfect and hence less efficient than their counterparts in the more developed economies, such as the USA and the UK, so that market disequilibrium and asset mispricing might have occurred. This paper adds value to the literature as the findings provide an institutional framework for analysing and explaining the results from empirical asset pricing work, past and future, on the Hong Kong market. This has far-reaching implications for financial decisions.

History

Publication status

  • Published

Journal

Asia Pacific Business Review

ISSN

1360-2381

Issue

1

Volume

11

Page range

3-24

Department affiliated with

  • Business and Management Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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