by Lo Kwok Cheong, Tang Wai Hing. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 97-99). / ABSTRACT --- p.ii / TABLE OF CONTENT --- p.iv / LIST OF CHARTS/TABLES --- p.vii / Chapter I. --- INTRODUCTION --- p.1 / Securitization and Secondary Mortgage Market --- p.1 / Securitization --- p.1 / Secondary Mortgage Market --- p.3 / Reasons for Mortgage Securitization --- p.4 / Types of Mortgage Backed Securities --- p.7 / Mortgage Pass-Through Securities --- p.7 / Mortgage-Backed Bonds --- p.8 / Mortgage Pay-Through Bonds --- p.8 / Collateralised Mortgage Obligations ( CMOs) --- p.9 / Stripped Mortgage-backed Securities ( SMBS ) --- p.11 / Chapter II. --- MBS MARKET EXPERIENCE IN OTHER COUNTRIES --- p.14 / United States --- p.14 / Rise of Securitization in US Market --- p.20 / MBS Market Development in United States --- p.22 / Key Success Factors for MBS Development in US --- p.27 / United Kingdom --- p.28 / MBS Market Development in UK --- p.29 / Credit Enhancement and Credit Rating --- p.32 / Legal and Regulatory Framework --- p.32 / Future Development --- p.34 / Australia --- p.37 / MBS Market Development in Australia --- p.37 / Credit Enhancement --- p.39 / Legal and Regulatory Framework --- p.40 / Future Development --- p.41 / Chapter III. --- MORTGAGE MARKET IN HONG KONG --- p.43 / Primary Mortgage Market condition in Hong Kong --- p.43 / Latest Residential Mortgage Conditions --- p.46 / Mortgage Securitization experience in Hong Kong --- p.50 / Chapter IV. --- HONG KONG MONETARY AUTHORITY'S MBS MARKET DEVELOPMENT PLAN --- p.51 / Survey on Primary Market by HKMA --- p.51 / Findings of the Survey --- p.52 / Implications of the Survey Findings --- p.53 / Reliability of the Survey Findings --- p.55 / The Mortgage Corporation Approach --- p.57 / Mortgage Corporation Proposal --- p.58 / Projection of the shortfall in mortgage funds --- p.60 / Impact on banks' mortgage business --- p.61 / Impact on the property sector --- p.62 / Impact on the Government --- p.62 / Corporate structure and the involvement of the HKMA --- p.63 / Issuance of debt securities by the mortgage corporation --- p.64 / Chapter V. --- IMPLICATIONS OF MBS DEVELOPMENT TO HONG KONG --- p.65 / Property Market --- p.65 / Banking Sector --- p.66 / Consumers --- p.69 / Debt Market --- p.69 / Chapter VI. --- FACTORS INFLUENCING ADOPTION OF MBS IN HONG KONG --- p.72 / Asset Quality --- p.72 / Quality of underlying mortgage pool --- p.73 / Credit enhancement --- p.74 / Prepayment Risk --- p.75 / Liquidity --- p.75 / Market Size --- p.76 / Standardisation --- p.77 / Credit Rating --- p.78 / Transparency --- p.78 / Chapter VII. --- RESEARCH DESIGN AND EMPIRICAL FINDINGS --- p.79 / Objective --- p.79 / Target Respondents Sampling --- p.80 / Survey Design --- p.80 / Empirical Findings --- p.82 / Chapter VIII. --- RECOMMENDATIONS --- p.89 / Simplicity --- p.89 / Credit Rating --- p.90 / Standardisation --- p.92 / Supporting Infrastructure --- p.93 / Secondary Market Liquidity --- p.94 / Marketing Effort --- p.94 / Chapter IX. --- SUMMARY AND CONCLUSIONS --- p.95 / BIBLIOGRAPHY --- p.97 / Books --- p.97 / Reports --- p.97 / Periodicals --- p.97 / Internet Homepages --- p.98 / APPENDIX --- p.100

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 / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

by Hui Sheung Yin, Yim Kam Kin. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1994. / Includes bibliographical references (leaves 69-70). / abstract --- p.ii / table of contents --- p.iii / list of tables --- p.v / acknowledgments --- p.vi / Chapter Chapter I. --- INTRODUCTION --- p.1 / Chapter Chapter II. --- literature review --- p.4 / Ivo Welch (1989) --- p.4 / Rock (1986) --- p.5 / Beatty and Ritter (1984) --- p.6 / "Kim, Krinsky and Lee (1993)" --- p.7 / McGuiness (1990) --- p.8 / Grinblatt and Hwang (1989) --- p.9 / Thomas J. Chemmanur (1993) --- p.10 / Chapter Chapter III. --- RESEARCH METHODOLOGY --- p.11 / Data Description --- p.11 / The Measurement of Underpricing Levels - --- p.14 / The Determination of IPO Underpricing --- p.17 / Explanation 1 for IPO: Uncertainty --- p.19 / Explanation 2 for IPO： Underwriter's Quality --- p.20 / Explanation 3 for IPO： Signaling Effect --- p.22 / Chapter Chapter IV. --- RESULTS AND DISCUSSION --- p.24 / First Day Initial Excess Return --- p.24 / Correlation between Initial Excess Return and determinations --- p.27 / Multivariate Regression Analysis --- p.29 / Chapter Chapter V. --- CONCLUSION --- p.36 / APPENDIXES / Chapter 1. --- Listing Requirements and Methods of Listing (For Equity Securities) --- p.38 / Chapter 2. --- Ranking of Underwriters --- p.41 / Chapter 3 . --- Correlation Matrix for Initial Excess Return and Explanatory Variables --- p.43 / Chapter 4. --- Selected Hong Kong Initial Public Offerings April 86 - December 92 --- p.44 / Chapter 5. --- Percentage Price Change From Offer Price of the end of the First Trading Day --- p.51 / Chapter 6. --- "Daily Excess Return, Periods: First Day to Seventh Day after listing" --- p.55 / Chapter 7. --- "Daily Excess Return, Periods: 8th to 10th, 15th, 20th, 25th and 30th day after listing" --- p.62 / BIBLIOGRAPHY --- p.69

by Li Kwing-hong, Alvin, Tang Chun-sing, Roger. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaf 71.

by Leung Wang Shek, Alice K.Y. Tsang. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1981. / Bibliography: leaf 136.

by Cheung Siu-fai, Dickson, Mak Wai-man, Raymond. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 69-70). / ABSTRACT --- p.ii / TABLE OF CONTENT --- p.iii / LIST OF TABLES --- p.v / LIST OF FIGURES --- p.v / ACKNOWLEDGMENTS --- p.vi / INTRODUCTION --- p.1 / Current Situation --- p.1 / Description of Initial Public Offers --- p.2 / Initial Public Offers Versus Other Floatation Methods --- p.3 / IPO Procedures And Requirements In Hong Kong --- p.4 / Authorities Related To Initial Public Offers --- p.6 / Statistics of Initial Public Offers In Hong Kong From 1990 To 1994 --- p.6 / Sponsor --- p.7 / Underwriter --- p.7 / LITERATURE REVIEW --- p.10 / Previous Studies on IPO --- p.10 / Limitations of Previous Studies on IPOs in Hong Kong --- p.11 / Scope and Significance of The Study --- p.12 / DATA SOURCES AND SAMPLE DESCRIPTION --- p.14 / Data Sources --- p.14 / Sample Description --- p.15 / RESEARCH METHODOLOGY --- p.18 / Objectives --- p.18 / Neutralization of the Effects of HSI and Dividend --- p.19 / Assumptions --- p.20 / Framework of Analysis --- p.21 / Statistical Methods --- p.21 / Chapter i. --- First Layer - Correlation Model --- p.22 / Chapter ii. --- Second Layer - Regression Model --- p.23 / DATA ANALYSIS AND FINDINGS --- p.25 / Predictability Of IPO Performance --- p.25 / Chapter i. --- Empirical Evidence --- p.25 / Chapter ii. --- Framework Of Offer Period --- p.26 / Chapter iii. --- Correlation Coefficient --- p.26 / Chapter iv. --- Regression Model --- p.27 / Chapter v. --- Implications --- p.31 / Impact of First-day IPO Return on Underwriter's Market Value --- p.33 / Chapter i. --- Empirical evidence --- p.33 / Chapter ii. --- Framework of Offer period --- p.34 / Chapter iii. --- Correlation coefficient --- p.34 / Chapter iv. --- Regression model --- p.35 / Chapter v. --- Implications --- p.37 / Separation of Lead-underwriters and Co-underwriters --- p.38 / Chapter i. --- Lead-underwriters --- p.38 / Chapter ii. --- Co-underwriters --- p.41 / Chapter iii. --- Implications --- p.41 / CONCLUSIONS --- p.42 / FURTHER CONSIDERATIONS --- p.45 / APPENDIX --- p.47 / BIBLIOGRAPHY --- p.69