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To authenticate to the full-text of this article, please visit this link: http://dx.doi.org/10.1111/j.1468-5957.2009.02153.x Byline: K.C. Chen (1), Guangzhong Li (1), Lifan Wu (1) Keywords: cross listing; China; Hong Kong; price discovery; A-shares; H-shares Abstract: Abstract: This study extends the cross-listing literature by examining how, and to what extent, the trading of cross-listed China-backed ADRs on the New York Stock Exchange contributes to information flows and price discovery for the corresponding stocks traded in China's A-share market. We find that the cross-listed US prices and Chinese prices are not cointegrated in the long-run and the home market plays a far more important role in both price discovery and volatility spillover than does the US market. The home bias hypothesis still holds for the segmented Chinese A-share market and the location where price discovery actually originates is the essential factor in the process of international information transmission. Author Affiliation: (1)The authors are respectively from California State University, Fresno; City University of New York; and California State University, Los Angeles and Zhongshan University, China. They would like to thank Peter Pope (editor) and an anonymous referee for valuable comments and suggesstions. All errors remain the authors' own. Article History: (Paper received October 2006, revised version accepted April 2009) Article note: (*) Address for correspondence: K.C. Chen, Craig School of Business, California State University, Fresno, CA 93740, USA., e-mail: kchen@csufresno.edu

This paper deals with the dynamics and stability of simply supported pipes conveying fluid, where the fluid has a small harmonic component of flow velocity superposed on a constant mean value. The perturbation techniques and the method of averaging are used to convert the nonautonomous system into an autonomous one and determine the stability boundaries. Post-bifurcation analysis is performed for the parametric points in the resonant regions where the axial force, which is induced by the transverse motion of the pipe due to the fixed-span ends and contributes nonlinearities to the equations of motion, is included. For the undamped system, linear analysis is inconclusive about stability and there does not exist nontrivial solution in the resonant regions. For the damped system, it is found that the original stable system remains stable when the pulsating frequency increases cross the stability boundary and becomes unstable when the pulsating frequency decreases cross the stability boundary.

Nikkei put warrants signal an innovation in security development and are emerging as a highly traded issue in the American stock exchange. Investors can use these privately issued puts to hedge or speculate on fluctuations in the Tokyo Stock Exchange. Potential benefits and costs can be better evaluated with information gained from an understanding of the price behavior of Nikkei put warrants. An analysis of prices of privately issued Nikkei put warrants using two alternative pricing models reveal pricing biases although these were insignificant.