The term "privately run economy," at the present stage [of development] in our country, refers to economic elements in which the assets of the enterprise belong to private individuals and are under a private ownership system, in which there is a set of labor relationships in which workers are...

iThis study examines the stock-price behavior of Chinese stock markets in the Shanghai and Shenzhen Stock Exchanges. There are strict stock-ownership restrictions in China. Foreign investors can only trade B shares, while domestic investors can only trade A shares. Under this two-tier trading...