Date of Award


Document Type


Degree Name

Master of Business Administration


College of Business and Public Administration

First Advisor

Beer, Francisca M.

Second Advisor

Estes, James P.

Third Advisor

Sarwar, Ghulam


The thesis examined the differences between the Chinese market, a fast-growing emerging market, and that of the United States, a well-known developed market. In order to understand the overall performance of the Chinese stock market, the research compared the risk and returns characteristics of Chinese stock markets using the S & P 500 Index for the 2000-2005 period. Findings show that significant differences exist between the Chinese and the U.S. markets. The thesis also attempted to identify the characteristics of the Chinese markets that hinder their efficiency.