by Tai Yau-Bun. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaf 48). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGEMENTS --- p.iv / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- LITERATURE REVIEW --- p.3 / Chapter III. --- CONCEPT OF OPTION AND THEORY OF OPTION EXERCIS --- p.7 / Chapter IV. --- DATA --- p.10 / Chapter V. --- INVESTIGATIONS & TESTS --- p.12 / Investigation I: General Pattern of Exercise --- p.12 / Investigation II: Ex-Dividend Date Effect --- p.13 / Test I: Test of Exercise Decision by Using Intrinsic Value --- p.14 / Test II: Test of Exercise on Expiration Date --- p.19 / Chapter VI. --- RESULTS --- p.21 / Result I: General Pattern of Exercise --- p.21 / Result II: Ex-Dividend Date Effect --- p.23 / Result III: Test of Exercise Decision by Using Intrinsic Value --- p.26 / Result IV: Test of Exercise on expiration date --- p.30 / Chapter VII. --- CONCLUSION --- p.32 / APPENDIX --- p.35 / BIBILIOGRAPHY --- p.48

by Chan Ho-Tong & Ren Tong-Hai. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 76-82). / ABSTRACT --- p.i / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.v / LIST OF TABLES --- p.vi / ACKNOWLEDGMENT --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- WARRANT AND COVERED WARRANT --- p.3 / Chapter III. --- HONG KONG WARRANTS MARKET --- p.5 / Chapter 3.1 --- Brief review --- p.5 / Chapter 3.2 --- The covered warrants market --- p.7 / Chapter 3.3 --- Attraction of Warrants --- p.9 / Chapter IV. --- STOCK OPTIONS --- p.11 / Chapter V. --- COMPARISON OF COVERED WARRANT TO STOCK OPTION --- p.13 / Chapter VI. --- MARKET EXPECTATIONS OF STOCK OPTIONS' IMPACTS --- p.16 / Chapter 6.1 --- Historical evidence from index option --- p.16 / Chapter 6.2 --- Expected impact of stock options --- p.17 / Chapter VII. --- LITERATURE REVIEW --- p.19 / Chapter 7.1 --- The impact of option on the underlying stock market --- p.19 / Chapter 7.1.1 --- Theoretical arguments --- p.20 / Chapter 7.1.2 --- Empirical evidence --- p.23 / Chapter 7.1.3 --- Effects of options listing on stock bid-ask spread --- p.27 / Chapter 7.2 --- Prediction of changes in the covered warrants market --- p.31 / Chapter 7.2.1 --- Volatility of covered warrant return --- p.31 / Chapter 7.2.2 --- Trading volume --- p.32 / Chapter 7.2.3 --- Bid-ask spread --- p.34 / Chapter 7.2.4 --- Additional considerations --- p.35 / Chapter VIII. --- DATA ANALYSIS --- p.37 / Chapter 8.1 --- Data Selection --- p.37 / Chapter 8.2 --- Methodology --- p.38 / Chapter 8.4 --- Spread Regression Model --- p.39 / Chapter 8.4 --- Results and Analysis --- p.41 / Chapter 8.4.1 --- Return --- p.41 / Chapter 8.4.2 --- Trading Volume --- p.43 / Chapter 8.4.3 --- Spread --- p.47 / Chapter 8.4.4 --- Spread regression --- p.48 / Chapter 8.4.5 --- Exploration of additional factors --- p.52 / Chapter IX. --- CONCLUSION --- p.55 / Chapter X. --- LIMITATIONS --- p.58 / Chapter XI. --- SUGGESTIONS --- p.60 / APPENDIX --- p.61 / BIBLIOGRAPHY --- p.76

by Chan Pak Man, Lee Kim Wai. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Incldues bibliographical references (leaves 59-62). / ABSTRACT --- p.iii / TABLES OF CONTENTS --- p.iv / Chapter CHAPTER I --- INTRODUCTION --- p.1 / Rationales of the Research --- p.1 / Outline of the Report --- p.3 / Chapter CHAPTER II --- BACKGROUND OF STOCK OPTIONS --- p.5 / Definition of a Stock Option --- p.5 / Differences from the Common Stock --- p.6 / Benefits of Stock Options --- p.6 / Overview of the Hong Kong Market --- p.8 / Chapter CHAPTER III --- OBJECTIVES --- p.9 / Chapter CHAPTER IV --- LITERATURE REVIEW --- p.11 / Theoretical Literature --- p.11 / Provision of investment choice --- p.11 / Efficient allocation of risk-bearing --- p.12 / Information efficiency --- p.13 / Destabilizing effect --- p.14 / Cross-effects --- p.14 / Empirical Evidence --- p.15 / Price effect --- p.15 / Volatility effect --- p.16 / Cross-effects on stocks --- p.18 / Chapter CHAPTER V --- METHODOLOGY --- p.20 / Data Collection --- p.20 / Statistical Analysis and Procedures --- p.21 / Chapter CHAPTER VI --- FINDINGS --- p.29 / Introduction Effects --- p.29 / Direct Price Effects (Options Listing) --- p.29 / Individual Stock Perspective --- p.29 / "Event Period (-20,+20)" --- p.29 / "Event Period (-10,+10)" --- p.31 / Average Excess Returns (Independent stocks) --- p.32 / "Event Period (-20,+20)" --- p.32 / "Event Period (-10,+10)" --- p.33 / Average Excess Returns (Equally-weighted portfolio) --- p.34 / "Event Period (-20,+20)" --- p.34 / "Event Period (-10,+10)" --- p.35 / Announcement Effects --- p.36 / Individual Stock Perspective --- p.36 / "Event Period (-20,+20)" --- p.36 / "Event Period (-10,+10)" --- p.38 / Average Excess Returns (Independent stocks) --- p.39 / "Event Period (-20,+20)" --- p.39 / "Event Period (-10,+10)" --- p.40 / Average Excess Returns (Equally-weighted portfolio) --- p.41 / Event Period (-20，+20) --- p.41 / "Event Period (-10,+10)" --- p.42 / Cross-effects --- p.43 / Volatility Effects --- p.45 / Chapter CHAPTER VI --- I DISCUSSION --- p.47 / Chapter CHAPTER VI --- II SUMMARY AND CONCLUSION --- p.53 / Chapter CHAPTER IX --- RECOMMENDATION --- p.57 / Chapter CHAPTER X --- BIBLIOGRAPHY --- p.59 / Chapter CHAPTER XI --- APPENDIX A --- p.63 / Announcement Effect for 21 days windows --- p.63 / Announcement Effect for 41 days windows --- p.68 / Listing Effect for 21 days windows --- p.73 / Listing Effect for 41 days windows --- p.78 / APPENDIX B --- p.83 / Table 6.1 --- p.83 / Table 6.2.1 --- p.84 / Table 6.2.2 --- p.85 / Table 6.2.3 --- p.86 / Table 6.2.4 --- p.87 / Table 6.3.1 --- p.88 / Table 6.3.2 --- p.89 / Table 6.3.3 --- p.90 / Table 6.3.4 --- p.91 / Table 6.4.1 --- p.92 / Table 6.4.2 --- p.93 / Table 6.4.3 --- p.94 / Table6.4.4 --- p.95 / Table6.5 --- p.96

by Chow Shun Yin. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 45-46). / ABSTRACT --- p.ii / TABLE OF CONTENT --- p.iii / LIST OF TABLE --- p.iv / ABBREVIATION --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- OVERVIEW OF HONG KONG STOCK OPTIONS --- p.4 / Chapter III. --- LITERATURE REVIEW --- p.6 / Chapter IV. --- METHODOLOGY AND DATA EMPLOYED --- p.10 / Test A ´ؤ Trading Volume Approach --- p.10 / Test B ´ؤ Trading Volume-Price Volatility Approach --- p.13 / Sample Selection --- p.15 / Data Collection --- p.16 / Chapter V. --- EMPIRICAL RESULTS --- p.17 / Findings --- p.24 / Discussion --- p.27 / Chapter VI. --- CONCLUSION --- p.30 / APPENDIX / BIBLIOGRAPHY

by Veronica Ho Pui Kwan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 99-103). / Prologue --- p.1 / Chapter Essay I: --- Examination of the GARCH Option Pricing Model in the case of Hang Seng Index Option / Chapter 1. --- Introduction --- p.4 / Chapter 2. --- Holes' in the Black-Scholes Model --- p.7 / Chapter 3. --- A Big 'Hole' -- Varying Volatility --- p.14 / Chapter 4. --- A Remedy : the GARCH Option Pricing Model --- p.31 / Chapter 5. --- Research Methodology and Data --- p.38 / Chapter 6. --- Empirical Results --- p.50 / Chapter 7. --- Conclusion --- p.67 / Chapter Essay II: --- Barrier Options / Chapter 1. --- Introduction on Barrier Option --- p.70 / Chapter 2. --- Pricing Models --- p.74 / Chapter 3. --- Hedging of Barrier Option --- p.81 / Chapter 4. --- Examination of a Down-and-Out Put Option --- p.88 / References --- p.99

Lau, Kai Shing. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 74-78). / INTRODUCTION --- p.2 / COVERED WARRANTS AND STOCK OPTIONS: A BRIEF BACKGROUND --- p.6 / Chapter a) --- covered warrants --- p.6 / Chapter b) --- Stock Options --- p.10 / Chapter c) --- covered warrants and stock options： a comparison --- p.14 / Chapter d) --- pricing difference between covered warrants and stock options --- p.18 / LITERATURE REVIEW --- p.20 / Chapter a) --- Introduction --- p.20 / Chapter b) --- theory on issuing of stock options --- p.21 / Chapter c) --- the introduction of stock options --- p.26 / Chapter i) --- Stock Options in United States --- p.26 / Chapter ii) --- Stock Options in United Kingdom --- p.28 / Chapter iii) --- Stock Options in Canada --- p.28 / Chapter iv) --- Options in Asia --- p.29 / Chapter d) --- Return Volatility and Trading Volume --- p.31 / Chapter i) --- Introduction --- p.31 / Chapter ii) --- Mixture of Distribution Hypothesis --- p.32 / Chapter iii) --- Classical Model of the Mixture of Distributions Hypothesis --- p.35 / Chapter iv) --- Recent Empirical Model of the Mixture of Distribution Hypothesis --- p.37 / DATA --- p.40 / METHODOLOGY --- p.43 / Chapter a) --- introduction --- p.43 / Chapter b) --- informational efficiency in the cash market --- p.45 / Chapter i) --- Model for Information Arrival and Price Adjustment --- p.46 / Chapter ii) --- Results --- p.48 / Chapter iii) --- An Overall Effect on the Cash market --- p.55 / Chapter c) --- information Cost and Trading Cost in Covered Warrants Market --- p.57 / Chapter i) --- Introduction --- p.57 / Chapter ii) --- Spread function for Covered Warrants --- p.62 / Chapter iii) --- Results --- p.63 / Chapter iv) --- Adjustments for Moneyness --- p.67 / CONCLUSION --- p.70 / REFERENCES --- p.74