The Geography of Equity Listing and Financial Centre Competition in Mainland China and Hong Kong

Bas Karreman and Bert van der Knaap

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: This study examines the changing competitiveness of financial centres in mainland China and Hong Kong based on the geography of equity listing of mainland Chinese firms. Pre-listing firm characteristics are used to explore firms’ motives for listing on a particular exchange and whether these motives have changed over time. The results show that Hong Kong’s prominence as an international financial centre is attracting the largest and, recently, also the best performing mainland Chinese state-owned enterprises to go public. Less differentiation exists between the competitiveness of Shanghai and Shenzhen, although the renewed strategy of the Shenzhen stock exchange to attract smaller firms appears to be successful.

Keywords: China; Hong Kong; financial centre competition; stock listing (search for similar items in EconPapers)
JEL-codes: G15 L10 M M13 O32 R12 R38 (search for similar items in EconPapers)
Date: 2010-08-10
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Related works:
Journal Article: The geography of equity listing and financial centre competition in mainland China and Hong Kong (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureri:20447

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