【摘要】 本文以同时发行A股和H股的16家双重上市公司为样本,利用固定效应模型对H股折价率作了实证分析。研究发现:A股和H股市场的软分割因素主要有公司规模、股份流动性以及A股流通股股东的被补偿预期等。本文认为,QDII将成为消除A股和H股市场分割的重要制度之一,并对推出QDII的步骤和时机提出了看法。更多还原

【Abstract】 This paper makes a pragmatic study on discount rate of H share,taking 16 dual listing corporations on A and H share market as samples by means of the fixed effect model.The results of research show: the factors of soft segmentation of A and H share market are mainly corporation scale,share liquidity,and expected compensation of circulating A shareholder,etc.The paper holds that QDII will be one of the important institutions which would remove the segmentation of A and H share market,and brings up suggestions about steps and time of Setting up QDII.更多还原