Demystifying China’s Stock Market

The Hidden Logic behind the Puzzles

  • Eric Girardin
  • Zhenya Liu

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Eric Girardin, Zhenya Liu
    Pages 33-62
  3. Eric Girardin, Zhenya Liu
    Pages 63-92
  4. Eric Girardin, Zhenya Liu
    Pages 93-119
  5. Back Matter
    Pages 121-125

About this book


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.


China's stock market Chinese political economy Chinese economics Corporate valuation principles Corporate governance Stock‐market organization Emerging markets Economic bubbles Short bull episodes Long bear markets Liberalization of the financial system The Efficient Market Hypothesis Corporate Valuation Principles The Institutional Approach Government-controlled economies The Phoenix Market

Authors and affiliations

  • Eric Girardin
    • 1
  • Zhenya Liu
    • 2
  1. 1.Aix-Marseille UniversityMarseilleFrance
  2. 2.Aix-Marseille UniversityMarseilleFrance

Bibliographic information

Industry Sectors
Finance, Business & Banking