| Abstract | 第1-7页 |
| 摘要 | 第7-9页 |
| 1. Introduction | 第9-13页 |
| 2. Theories and Literature Review | 第13-22页 |
| ·Speculative Trading Theories | 第13-17页 |
| ·Overconfidence and Heterogeneous Beliefs | 第13-15页 |
| ·Heterogeneous Beliefs and Speculative Motives | 第15-16页 |
| ·Measurements for Speculative Component | 第16-17页 |
| ·Market Segmentation Theories | 第17-22页 |
| ·Differential Risk Hypothesis | 第18-19页 |
| ·Differential Demand Hypothesis | 第19页 |
| ·Liquidity Hypothesis | 第19-20页 |
| ·Asymmetric Information Hypothesis | 第20-22页 |
| 3. The Chinese Stock Market | 第22-31页 |
| ·General rules and Concepts | 第22-24页 |
| ·Development of Chinese A and B share markets | 第24-28页 |
| ·Market Overview | 第24页 |
| ·Chinese A share Markets | 第24-26页 |
| ·Chinese B Share Markets | 第26-28页 |
| ·The Opening-up of B Share Markets to Domestic Investors | 第28-31页 |
| 4. Price Premia of A - B Share | 第31-50页 |
| ·An Overview: Movements of A and B Price Index in Both Stock Exchanges | 第31-36页 |
| ·A-B Share Price Premia: Vertical and Horizontal Observations | 第36-50页 |
| ·A Comparison between A-B Share Price Premia before and after the event | 第36-41页 |
| ·Cross Company A-B Share Price Premia After the Event | 第41-50页 |
| 5. Empirical Analysis | 第50-73页 |
| ·Data and Methodology | 第50-51页 |
| ·Speculative Trading and A-B Share Price Premia after the Event | 第51-63页 |
| ·Introduction of the Model by Mei, Scheinkman and Xiong | 第51-53页 |
| ·Revisiting the Model | 第53-58页 |
| ·Modifying and Expanding the Model | 第58-63页 |
| ·Liquidity and A-B Share Price Premia | 第63-71页 |
| ·Cross-sectional Regression Controlling the Effect of Liquidity | 第64-67页 |
| ·B Share Liquidity and A-B Share Price Premia | 第67-69页 |
| ·Cross-sectional Difference between A-B Share Liquidity | 第69-71页 |
| ·Conclusions from the Empirical Evidence | 第71-73页 |
| 6. Other Drivers of Sustained Price Premia | 第73-78页 |
| ·Other Possible Factors Affecting A-B Price Premia after the Event | 第73-76页 |
| ·Information Asymmetry Hypothesis | 第73-74页 |
| ·Differential Demand Elasticity Hypothesis | 第74页 |
| ·Differential Risk Hypothesis | 第74-76页 |
| ·Institutional Point of View: Possible Solutions of A-B Share Price Premia Problem | 第76-78页 |
| 7. Conclusion | 第78-81页 |
| Bibliography | 第81-86页 |
