CHARACTERISTICS OF THE CHINESE BOURSES (STOCK MARKETS)
AbstractWe analyze a data base not heretofore discussed in the literature to determinine some financial characteristics of the Chinese Bourses (Stock Markets). The prupose is to determine if the emerging financial markets of China developed in such a way that here was positive influence associated with technology driven industries. The time period covered and the size of the financials are such that the influence of market anomalies are minimized but the association between closing daily returns for the financial markets are associated with the rise of technology driven industries. In the beginning, we review the growth in financial markets as observed in the growth of financial indicators of the Chinese Bourses. In turn, we study a model to show the relationship between returns and the nature of technology driven industries.
Further, we account for the robustness of our final model to remove the effects of autocorrelation in the error term for the estimates equation. We observe some of the financials of each of these industries in noting the distributions of returns by specific industry contain skewness and we observe the differences in these returns as noted the Box Plots of closing returns by industry.
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.