We evaluate the association between social networks and household income using a panel dataset of representative households in China constructed from the 2011 and 2013 waves of the China Household Financial Survey (CHFS). The results show that social networks are positively associated with the...

Although liquidity has received wide attention in asset pricing literature over the past decades, how stock liquidity is priced in emerging markets remains unclear. We find that liquidity plays an important role in explaining the cross-section and time-series variation in expected returns by...

This study investigates the association between stock liquidity and the H-share discount using a sample of Chinese cross-listed stocks in A- and H-shares markets. We examine the liquidity hypothesis by employing depth and trading activity variables. Our results suggest that stocks with a higher...