Summary in Chinese. / Thesis (M.B.A.)--Chinese University of Hong Kong. / Bibliography: leaves 195-196.

published_or_final_version / Economics and Finance / Master / Master of Economics

published_or_final_version / Journalism and Media Studies Centre / Master / Master of Journalism

published_or_final_version / Business / Master / Master of Philosophy

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Economics and Finance / Master / Master of Economics

by Leung Wai Yuen and Wong Che Keung. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 79-81). / ABSTRACT --- p.iv / ACKNOWLEDGMENT --- p.v / TABLE OF CONTENTS --- p.vi / LIST OF TABLES --- p.x / LIST OF FIGURES --- p.xi / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Background --- p.1 / Objective of This Study --- p.5 / Chapter II --- THE DEVELOPMENT OF THE STOCK MARKET IN HONG KONG --- p.6 / Development of the Stock Exchange --- p.6 / Performance of the Stock Market --- p.10 / Chapter III --- CURRENT SITUATION OF THE SEHK --- p.14 / Performance in 1994 --- p.14 / Future Development of the SEHK --- p.19 / Chapter IV --- REGULATORY ENVIRONMENT IN HONG KONG --- p.20 / History of Securities Legislation in Hong Kong --- p.20 / Regulatory Hierarchy of the Securities Market in Hong Kong --- p.24 / The Securities and Futures Commission --- p.25 / Mission and Functions of the SFC --- p.25 / Chapter V --- SECURITIES (INSIDER DEALING) ORDINANCE --- p.29 / Definition of Insider Dealing --- p.29 / The Insider Dealing Tribunal --- p.30 / Chapter VI --- SECURITIES (DISCLOSURE OF INTEREST) ORDINANCE --- p.32 / Gist of the Ordinance --- p.32 / Duties of Substantial Shareholders --- p.33 / Disclosure of Directors and Chief Executives --- p.34 / Interests That Can be Disregarded --- p.35 / Penalties for Breaches --- p.36 / Chapter VII --- LITERATURE REVIEW --- p.37 / Research on Overseas Stock Markets --- p.37 / Watchdog Report by Credit Lyonnais --- p.42 / Chapter VIII --- METHODOLOGY --- p.43 / Data Sampling --- p.43 / Definition of Insider Activities Index --- p.45 / Design of the Study --- p.46 / Chapter IX --- RESULTS AND IMPLICATIONS --- p.50 / Industry Type --- p.50 / Company Size --- p.51 / Seasonal Effect --- p.52 / Ownership Concentration --- p.53 / Chapter X --- CONCLUSION AND RECOMMENDATIONS --- p.55 / Conclusion --- p.55 / Recommendations for Further Studies --- p.56 / APPENDICE --- p.58 / Appendix 1 --- p.59 / Appendix 2 --- p.63 / Appendix 3 --- p.67 / Appendix 4 --- p.71 / Appendix 5 --- p.73 / Appendix 6 --- p.75 / Appendix 7 --- p.77 / BIBLIOGRAPHY --- p.79

by Lam Suen, Tang Mun-suet. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 60-61). / ABSTRACT --- p.iii / TABLE OF CONTENT --- p.v / LIST OF CHARTS/TABLES --- p.vii / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- INTRODUCTION OF MORTGAGE-BACKED SECURITIES --- p.6 / What is Securitization --- p.6 / Types of Mortgage-backed Securities --- p.8 / Mortgage Pass-through Securities --- p.8 / Collateralized Mortgage Obligations --- p.9 / Stripped Mortgage-backed Securities --- p.11 / Chapter III. --- BENEFITS OF SECURITIZATION --- p.14 / Benefits to Issuers --- p.14 / Diversification of Funding Sources and Increased Liquidity --- p.14 / Cost Effective Source of Funds --- p.15 / Efficient Use of Capital --- p.15 / Rapid Portfolio Growth --- p.15 / Better Asset/Liability Management --- p.16 / Earning Enhancement --- p.16 / Benefits to Investors --- p.16 / Benefits to Borrowers --- p.17 / Implication of Securitization for Financial Market --- p.17 / Chapter IV. --- MODELING AND VALUATION OF MORTGAGE-BACKED SECURITIE& --- p.19 / Static Cash Flow Yield (SCFY) Analysis --- p.20 / Advantages and Limitations --- p.21 / Total Rate of return Scenario Analysis (SA) --- p.22 / Advantages and Limitations --- p.23 / Option Adjusted Spreads (OAS) --- p.24 / Advantages and Limitations --- p.26 / Chapter V. --- THE MORTGAGE-BACKED SECURITIES MARKET IN US --- p.27 / U.S. Capital Market --- p.27 / Market Structureof Mortgage-backed Securities in US --- p.28 / Mortgage Originators --- p.28 / Mortgage-backed Securities Issuers --- p.29 / Derivatives of Mortgage-backed Securities --- p.32 / Secondary Mortgage-backed Securities Market --- p.33 / Chapter VI. --- THE HONG KONG MORTGAGE-BACKED SECURITIES MARKET --- p.35 / Mortgage Pool --- p.35 / Characteristics of residential mortgage loans in Hong Kong --- p.35 / Lending policy of authorized institutions since 1989 --- p.37 / Development Of MBS --- p.39 / "Four Mortgage-backed, Bond Sales" --- p.40 / "Bank Of America (Asia) - May, 1994" --- p.40 / "Citibank's Homes-1 - July, 1994" --- p.41 / "Cheung Kong Holdings - September, 1994" --- p.42 / "Standard Chartered Bank's MARS - December, 1994" --- p.44 / Chapter VII. --- DISCUSSION ON HONG KONG MORTGAGED-BACKED SECURITIES MARKET --- p.46 / "Why is the Mortgage-backed, Securities Market Less Important in Hong Kong" --- p.46 / Uncertain Political Environment of Hong Kong --- p.46 / Hong Kong Residential Property Price Inflation --- p.48 / Limited Liquidity --- p.49 / Few Securities with Credit Ratings --- p.49 / Risks of Mortgage-backed Securities --- p.49 / Chapter VIII. --- RECOMMENDATIONS AND FUTURE OF HONG KONG MORTGAGE-BACKED SECURITIES MARKET --- p.55 / Recommendations for Hong Kong Mortgage-backed Securities Market --- p.55 / Credit Enhancement of Securitized Products --- p.55 / Better Market Infrastructure --- p.56 / Liquid Bond Markets --- p.57 / The Future Mortgage-backed Securities Market in Hong Kong --- p.58 / BIBLIOGRAPHY --- p.60

Mak Nga-sze. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2005. / Includes bibliographical references (leaves 45-46). / Abstracts in English and Chinese. / Chapter 1 --- Introduction --- p.1 / Chapter 1.1 --- Purpose --- p.2 / Chapter 1.2 --- Flow of the study --- p.3 / Chapter 2 --- Review of Equity Linked Securities --- p.5 / Chapter 2.1 --- Backgrond of Equity Linked Securities in Hong Kong --- p.5 / Chapter 2.2 --- Differences of trading between listed and non-listed ELIs --- p.7 / Chapter 2.3 --- Non-listed ELIs --- p.9 / Chapter 2.3.1 --- Definition --- p.9 / Chapter 2.3.2 --- Variables specification --- p.11 / Chapter 2.3.3 --- Payoff possibilities --- p.13 / Chapter 3 --- Data --- p.17 / Chapter 3.1 --- Data sources --- p.17 / Chapter 3.2 --- Data treatment --- p.18 / Chapter 4 --- Methodology --- p.21 / Chapter 4.1 --- Volatility --- p.23 / Chapter 4.2 --- Implied volatility by CRR binomial Tree --- p.24 / Chapter 4.3 --- Historical volatility --- p.26 / Chapter 5 --- Estimation of Empirical Data --- p.28 / Chapter 5.1 --- Statistical results of the issuer's profit margin --- p.29 / Chapter 5.2 --- Empirical analysis of the profit margin trends --- p.31 / Chapter 5.2.1 --- Factor 1: Volatility --- p.34 / Chapter 5.2.2 --- Factor 2: Trading volume --- p.34 / Chapter 6 --- Conclusion --- p.37 / Chapter 6.1 --- Conclusion --- p.37 / Chapter 6.2 --- Extensions --- p.38 / Appendix --- p.40 / Chapter .1 --- "Tables of non-listed ELIs in Hong Kong, updated to January 31,2005" --- p.40 / Chapter .2 --- "Stock options in HKEx, lastest to June 2004" --- p.43 / Chapter .3 --- Histograms of the issuer's profit margins --- p.44 / References --- p.45