Authors
Paul B McGuinness
Publication date
2009/2/20
Source
Journal of Financial Regulation and Compliance
Volume
17
Issue
1
Pages
41-56
Publisher
Emerald Group Publishing Limited
Description
Purpose
–
The purpose of this paper is to provide an updated and critical assessment of the share reforms relevant to Chinese A‐share issuers listed in the two mainland markets of Shanghai and Shenzhen. The reform programme first began in 2005 and has now spread widely across issuers in the two markets. It is therefore timely to assess how effective the reforms have been as well as gauging the ongoing effects of the transformation (of non‐tradable scrip into tradable form) on A‐share prices.
Design/methodology/approach
–
The “Split Share Structure” reform programme represents a major policy initiative in China and potentially opens‐the‐door to large‐scale state‐share disposals. The evidence to date however suggests that the Chinese authorities are primarily concerned with the reconfiguration of the array of share types that presently exist into a more comprehendible, streamlined form. The various checks …
Scholar articles
PB McGuinness - Journal of Financial Regulation and Compliance, 2009