© 2015

Experiences and Challenges in the Development of the Chinese Capital Market

  • Douglas Cumming
  • Alessandra Guariglia
  • Wenxuan Hou
  • Edward Lee

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Douglas Cumming, Alessandra Guariglia, Wenxuan Hou, Edward Lee
    Pages 1-3
  3. Yizhe Dong, Douglas Cumming, Alessandra Guariglia, Wenxuan Hou, Edward Lee
    Pages 37-67
  4. Elisabeth Dedman, Wei Jiang
    Pages 68-88
  5. Ziqiao Yan, Wanli Li, Wei Sun
    Pages 108-129
  6. Tinghua Duan, Nan Li, Wenxuan Hou
    Pages 130-149
  7. Chen Wang, Rong Ding, Wenxuan Hou, Edward Lee
    Pages 171-196
  8. Back Matter
    Pages 197-203

About this book


The focus of the global economy has increasingly shifted toward China and emerging countries. However, despite their high growth prospects, emerging economies often lack the sound capital market and corporate governance systems necessary to promote the efficient allocation of financial resources to maintain the confidence of capital providers. As China becomes more prominent economically, the development of its capital market becomes an increasingly important issue. This book presents some of the latest academic research on China's capital markets, demonstrating some of the major issues currently being faced. Preeminent researchers in the field examine key topics such as the performance of commercial banks, dividends and ownership, financial constraints and firm performance, the role of political networks, stock price decomposition, stock return predictability, and the role of media coverage. In this book, the authors use the country's institutional background to offer useful insight into policy implications for the development of China as well as other emerging economies.


China Chinese capital market emerging market Chinese development banking capital market development moral hazard rating

Editors and affiliations

  • Douglas Cumming
    • 1
  • Alessandra Guariglia
    • 2
  • Wenxuan Hou
    • 3
  • Edward Lee
    • 4
  1. 1.Schulich School of BusinessYork UniversityCanada
  2. 2.University of BirminghamUK
  3. 3.The University of Edinburgh Business SchoolUK
  4. 4.Manchester Business SchoolUK

About the editors

Douglas Cumming is Professor and Ontario Research Chair at the Schulich School of Business, York University, Canada. Cumming is Co-Editor of Entrepreneurship Theory and Practice (since 2011). He has published over 70 refereed papers since completing his JD/PhD in 1999 in journals.

Bibliographic information

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