Two essential strategies to understand the mechanisms of intergenerational mobility are to compare mobility across countries and across time. However, for multigenerational mobility, estimates for developing countries are mostly missing, and trend studies are rare. This paper provides the first...

We show that the probability of information-based trade (PIN) played a significant role in explaining monthly returns on Shanghai A shares over the period 2001 to 2006. In particular, PIN, as approximated by order imbalance as a proportion of total transactions, appears to explain returns even...