02025cas a2200253 a 4500 AALejournalIMF014260 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484320143 1018-5941 BD-DhAAL BD-DhAAL Lipinsky, Fabian. Asia's Stock Markets : Are There Crouching Tigers and Hidden Dragons? / Fabian Lipinsky, Li Lian Ong. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (46 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region's markets are reputed to be more 'idiosyncratic' and less reliant on economic and corporate fundamentals in their pricing. Using a model that draws on international asset pricing and economic theory, as well as accounting literature, we find evidence of greater idiosyncratic influences in the pricing of Asia's stock markets, compared to their G-7 counterparts, beyond the identified systematic factors and local fundamentals. We also show proof of a significant relationship between the strength of implementation of securities regulations and the 'noise' in stock pricing, which suggests that improvements in the regulation of securities markets in Asia could enhance the role of stock markets as stable and reliable sources of financing into the future. Mode of access: Internet Ong, Li Lian. IMF Working Papers; Working Paper ; No. 2014/037 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/037/001.2014.issue-037-en.xml IMF e-Library