| ABSTRACT | 第5-7页 |
| 摘要 | 第8-15页 |
| Essay Ⅰ:The Dynamics of Discounts in the Chinese A-B ShareMarket:Tests of Clientele Effects in Markets | 第15-103页 |
| 1. Introduction | 第15-21页 |
| 2. Liquidity Hypothesis and Empirical Test | 第21-29页 |
| 3. Behavioral Market Hypothesis and Tests | 第29-45页 |
| 4. Expected Changes in the Discount Resulting from Expected Appreciation of theRMB Relative to the Dollar | 第45-49页 |
| 5. Possible Changes in the Level of the Discount Resulting From Dividend Policy,Share Buybacks,and Split-Share Reform | 第49-68页 |
| 6. Clientele Effects Hypothesis:Identifying the Marginal Investor in the B Shares(TheLevel of the Discount) | 第68-86页 |
| 7. An Alternative Explanation of the Discount:The Pooling Equilibrium Model:Change in the Marginal Investor and Clienteles | 第86-89页 |
| 8. Conclusions | 第89-92页 |
| References | 第92-103页 |
| Essay Ⅱ:The Advantages of Developing a Viable Corporate BondMarket in China:The Role of Clienteles:The Role of Clienteles | 第103-129页 |
| 1. Introduction | 第103-107页 |
| 2. Institutional Background | 第107-110页 |
| 3. The Individual Model | 第110-114页 |
| 4. Policy Implications | 第114-117页 |
| 5. Advantages to Corporations | 第117-120页 |
| 6. Conclusion | 第120-123页 |
| Appendix | 第123-126页 |
| References | 第126-129页 |
| Essay Ⅲ:The Past and Future Development of Private EquityInvestments in China | 第129-184页 |
| 1. Introduction | 第129-135页 |
| 2. Clientele Model and Private Equity Investing | 第135-149页 |
| 3. Brief Description of U.S.PE Industry | 第149-155页 |
| 4. Present Situation of VC/PE Funds in China | 第155-159页 |
| 5. Future Development of China's PE Fund | 第159-170页 |
| 6. Conclusion | 第170-172页 |
| APPENDIX | 第172-181页 |
| References | 第181-184页 |
