New Investors and Bubbles: An Analysis of the baosteel call warrant bubble baosteel call warrant bubble

Binglin Gong; Deng Pan; Donghui Shie

doi:10.1287/mnsc.2016.2427

New Investors and Bubbles: An Analysis of the baosteel call warrant bubble baosteel call warrant bubble

Binglin Gong
, Deng Pan^*
, Donghui Shie

^*此作品的通讯作者

经济与管理学院

Fudan University
Xiamen University
Shanghai Stock Exchange

科研成果: 期刊稿件 › 文章 › 同行评审

13 引用（Scopus）

摘要

This paper provides an analysis of the impact of new investors on the bubble surrounding the Baosteel call warrant, the first derivative traded in China after a nine-year suspension. We empirically show that new investors initiated the bubble at the opening call auction and were the key driving force to sustain the bubble until the maturity of the warrant.

源语言	英语
页（从-至）	2493-2508
页数	16
期刊	Management Science
卷	63
期	8
DOI	https://doi.org/10.1287/mnsc.2016.2427
出版状态	已出版 - 8月 2017

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10.1287/mnsc.2016.2427

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title = "New Investors and Bubbles: An Analysis of the baosteel call warrant bubble baosteel call warrant bubble",

abstract = "This paper provides an analysis of the impact of new investors on the bubble surrounding the Baosteel call warrant, the first derivative traded in China after a nine-year suspension. We empirically show that new investors initiated the bubble at the opening call auction and were the key driving force to sustain the bubble until the maturity of the warrant.",

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author = "Binglin Gong and Deng Pan and Donghui Shie",

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KW - Heterogeneity

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New Investors and Bubbles: An Analysis of the baosteel call warrant bubble baosteel call warrant bubble

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