The theme of my dissertation is emerging capital markets behavior. I utilize three approaches: institutional, experimental and econometric to study the impact of reforms on capital allocation and stock market operation.In Chapter one, using a unique data set on Chinese provincial savings and...

The theme of my dissertation is emerging capital markets behavior. I utilize three approaches: institutional, experimental and econometric to study the impact of reforms on capital allocation and stock market operation.In Chapter one, using a unique data set on Chinese provincial savings and...

We show that market frictions and agency considerations are important concerns when institutional investors make portfolio allocation decisions. For a sample of widely followed firms, institutional holdings increase with increases in visibility as measured by the number of analysts following the...

Index options have been one of the most successful of the many innovative financial instruments introduced over the last few decades, as their high trading volume indicates. Given their prominence, the pricing efficiency of these markets is of great importance. ; Detecting inefficient pricing,...