In the morning of May 15, the College of Finance held "State ownership and stock return volatility: New evidence from China’s secondary privatisation?"academic report at F215 in South Science Building. Professor Chi Jing, who is the PhD studants tutor in finance of Massey University and the winner of the National Outstanding Teaching Award of New Zealand universities, was invited to give the speech.The report was hosted by ViceDean Zhou Yueshu. Some graduate students and undergraduates of our college attended the report.
At the beginning of the report, Prof. Chi first gave a brief introduction of her education background and work experience, and showed her life in New Zealand and local customs and practices through photos, leaving a deep impression on everyone.
Prof. Chi Shared three important findings from the study: Firstly, state-owned stock ownership can significantly reduce the volatility of stock returns; Secondly, the government tends to hold shares in enterprises with high labor intensity, industry dominance, large scale and high leverage; Third, the government tends to complete the reform process of non-tradable shares of important economic sectors and enterprises through long-term measures.
Through this report, students have gained a further understanding of the reform of the non-tradable share structure in the Chinese stock market, they have benefited a lot from this report.
