Leverage and inefficiencies in financial markets

This thesis collects several research papers, addressing pertinent topics of asset pricing, market efficiencies and trading mechanisms. Questions that are investigated are: what is the role of financial leverage in the relation between systematic risk and stock returns? What is the impact of particular trading rules in Chinese stock markets on stock prices and volatility? Are oil and gas stocks priced efficiently after extreme oil price shocks? Do firms’ financial leverage ratios predict stock returns? In this thesis, the above questions are studied with theoretical analysis and empirical tests.

Dissertation: http://hdl.handle.net/11370/0eb2a223-2254-4f10-95ff-3a930e483753