Market Timing of Dual Listed with Issue Regulation

摘要

With the dual listed sample between 2001 and 2008, we focus on the behavior of market timing when H shares’ return domestic market under the long-term regulation environment. We find regulation environment and market condition are two important and significant factors which influent the timing motivation. We further find that the exchange rate of HKD/CNY is one of key factors motivating H shares’ return.