| Titre : |
Research on the Impact of “the Belt and Road” Policy on the Stock Prices of Related Companies |
| Type de document : |
Mémoire |
| Auteurs : |
Zehan WANG, Auteur |
| Année de publication : |
2020 |
| Importance : |
51 p. |
| Note générale : |
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| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
POLITIQUE ECONOMIQUE ; ACTION ; SOCIETE PAR ACTIONS
|
| Résumé : |
The stock market is an incubator that absorbs and reflects various information. Belt and Road (B&R) policies can be one of the most famous information in China stock market. This paper tests whether the release of the relevant policies of B&R can cause movements in the stock prices of related companies. The main question in this paper is: “What is the impact of B&R policies on the stock price”. The sub-question is: “Does the same policy have the same effect on stock prices in different industries”. Event study methodology is the main empirical method to conduct the research. This paper takes 35 listed companies as samples and selects 7 specific policies of B&R as events from 2013 to 2019. The average abnormal return and cumulative abnormal return during the event window are calculated. A T-test is carried out on the null hypothesis of “CAR equals zero”. The results show that the release of B&R polices can cause movements in the stock prices of related companies. And the impact of B&R polices on stock price is not always positive, so investors should not always depend on the release of B&R policies to put more money in the stock market. What’s more, it is found that the same policy has obvious different impact on the stock prices of different industries. The same policy is good for one industry, but it may be bad for another. At last, this paper gives recommendations to investors, government and enterprises based on the results. |
| Programme : |
MSc Finance |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=532903 |
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Research on the Impact of “the Belt and Road” Policy on the Stock Prices of Related Companies / 2020 
