Citation
Chen, D. (2014), "Editorial", China Finance Review International, Vol. 4 No. 1. https://doi.org/10.1108/CFRI-12-2013-0140
Publisher
:Emerald Group Publishing Limited
Editorial
Article Type: Editorial From: China Finance Review International, Volume 4, Issue 1
In late 2013, China underwent major political leadership transition and Chinas new leadership vowed to speed up its economic reform. Chinas economic reform are expected to deepen in a wide range of areas, including having the market play its dominate role in the economy, integrating its economy into global economy, and improving the efficiency of its financial system. As Chinas financial development is entering a new stage, it calls for more studies on Chinas financial market and its implications to financial theory and practice.
The five papers in this issue add a timely and original bodies of current research on Chinas financial market. For example, on overseas listing of Chinese private enterprises, which has always been a significant hot issue, the paper entitled "Overseas listing location and capital structure", compared to most of the current studies which mainly focus on the differences between the listing in China and the overseas listing, develops a new method of directly comparing the Chinese private enterprises listed in Hong Kong with those listed in America in characteristic. The important findings of this paper may help Chinese private enterprises to make financing decisions. The other four papers are concerned with asset pricing, yielding different but significant results. The paper, "Assessment on RMB valuation – a triangular analysis approach" focuses on the study of RMB valuation. The paper "Testing asymmetric correlations in stock returns via empirical likelihood method" focuses on the study of the asymmetry correlations of stock returns. Both of the remaining two papers, entitled "The study of the price of gold futures based on heterogeneous investors overconfidence" and "Macro-factors on gold pricing during the financial crisis", study the gold pricing. To summarize, all papers in this issue provide valuable insights to the important issues investigated.
Donghua Chen