A study of the level of investor protection in Hong Kong from the perspective of listings on the Stock Exchange of Hong Kong Limited

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A study of the level of investor protection in Hong Kong from the perspective of listings on the Stock Exchange of Hong Kong Limited

 

Author: Chau, Judy Lai-kun
Title: A study of the level of investor protection in Hong Kong from the perspective of listings on the Stock Exchange of Hong Kong Limited
Degree: M.B.A.
Year: 1993
Subject: Stock Exchange of Hong Kong
Stock exchanges -- China -- Hong Kong
Securities -- Listing
Hong Kong Polytechnic -- Dissertations
Department: Dept. of Management
Pages: 177 leaves ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1150984
URI: http://theses.lib.polyu.edu.hk/handle/200/2955
Abstract: This attempts to address two questions relating to the securities market:- What is the actual level of investor protection in Hong Kong ? and What is the optimal level of investor protection for Hong Kong ? The analysis is conducted by looking first at the evolution of ideologies of investor protection. Then seven parameters are studied to determine whether the present ideologies are acheived in practice. These parameters are Risk-management Capability, Availability of Effective Systems, Adequacy of Disclosure, Arrangement of Enforcement, Remedies to Investors, Integrity of Company Managers and Integrity of Intermediaries. Selected comparisons are made with other securities markets. It is concluded that while the ideologies are generally achieved, there are certain inadequacies in the regulatory system partly due to existing loopholes and partly due to recent developments in world as well as local markets. The optimal level of investor protection, in the circumstances of the Hong Kong market and in the light of these recent developments, may be reached by increasing the pace of de-regulation pace whilst enhancing full and quality disclosure of information to the market. To this end, a number of ecommendations are made.

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