How does reserve ratio decreasing act on market: Empirical evidence from China
This paper tests whether macro monetary shock will influence stock market. Employing approaches of event study and abnormal returns regression, this paper finds that reserve ratio decreasing does lead to positive abnormal returns, but it works through different channels in each event. Further analyz...
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| Veröffentlicht in: | Journal of applied finance and banking 2019-09, Vol.9 (5), p.15-25 |
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| container_title | Journal of applied finance and banking |
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| creator | Wang, Yuxun |
| description | This paper tests whether macro monetary shock will influence stock market. Employing approaches of event study and abnormal returns regression, this paper finds that reserve ratio decreasing does lead to positive abnormal returns, but it works through different channels in each event. Further analyzing shows that characteristics of the stock market of China make the differences: market overreacts to unexpected shock and underreacts to expectable event. |
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Employing approaches of event study and abnormal returns regression, this paper finds that reserve ratio decreasing does lead to positive abnormal returns, but it works through different channels in each event. 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| ispartof | Journal of applied finance and banking, 2019-09, Vol.9 (5), p.15-25 |
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| language | eng |
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| source | EZB-FREE-00999 freely available EZB journals |
| subjects | Abnormal returns Bank liquidity Cash flow forecasting Central banks Discount rates Economic models Economics Efficiency Efficient markets Hypotheses Inflation Investments Monetary policy Price increases Rates of return Securities markets Stock prices Studies |
| title | How does reserve ratio decreasing act on market: Empirical evidence from China |
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