Mechanisms of Allocation and Impacts of Abolishment: Evidence from Chinese Stock Quota System
Live Poster Session: Zoom LinkThursday, July 30th 1:15-2:30pm EDT Abstract: The stock market in China was established in 1990. Then, a “quota system” was implemented from 1992-2002, which allowed the government to centrally allocate shares of IPO to provinces. The allocation of quota was not evenly distributed. We find that before 1996, the allocation of … Read more