Ownership restrictions and stock-price behavior in China

Kam C. Chan; Louis T.W. Cheng; Joseph K.W. Fung

doi:10.4324/9781315499215-12

Ownership restrictions and stock-price behavior in China

Kam C. Chan
, Louis T.W. Cheng
, Joseph K.W. Fung

The Hong Kong Polytechnic University

Research output: Chapter in book / Conference proceeding › Chapter in an edited book (as author) › Academic research › peer-review

Abstract

Many stock markets have or used to have such restrictions. According to Eun and Janakiramanan (1986), foreign investors were only allowed to purchase a limited number of shares of a firm in Finland, France, India, Indonesia, South Korea, Mexico, Spain, and Sweden. In Australia, Canada, Japan, Malaysia, and Norway, limited foreign ownership was employed in selective industries. In addition, Bergström, Rydqvist, and Sellin (1993) reported that a capital-outflow constraint limiting the amount of capital that domestic investors could export was enforced in the United Kingdom until 1979, and in Sweden until 1989. In Ireland, the capital-outflow constraint was still in effect in 1993.

Original language	English
Title of host publication	Financial Markets and Foreign Direct Investment in Greater China
Publisher	Taylor and Francis Ltd.
Pages	115-136
Number of pages	22
ISBN (Electronic)	9781315499208
ISBN (Print)	0765608049, 9780765608048
DOIs	https://doi.org/10.4324/9781315499215-12
Publication status	Published - 1 Jan 2016

ASJC Scopus subject areas

General Economics,Econometrics and Finance
General Business,Management and Accounting
General Arts and Humanities

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10.4324/9781315499215-12

Cite this

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AB - Many stock markets have or used to have such restrictions. According to Eun and Janakiramanan (1986), foreign investors were only allowed to purchase a limited number of shares of a firm in Finland, France, India, Indonesia, South Korea, Mexico, Spain, and Sweden. In Australia, Canada, Japan, Malaysia, and Norway, limited foreign ownership was employed in selective industries. In addition, Bergström, Rydqvist, and Sellin (1993) reported that a capital-outflow constraint limiting the amount of capital that domestic investors could export was enforced in the United Kingdom until 1979, and in Sweden until 1989. In Ireland, the capital-outflow constraint was still in effect in 1993.

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ER -

Ownership restrictions and stock-price behavior in China

Abstract

ASJC Scopus subject areas

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