Journal article
Stock returns and economic forces—An empirical investigation of Chinese markets
Global finance journal, v 30, pp 45-65
May 2016
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This study finds evidence that a better macroeconomic climate and an improvement in liquidity help to explain Chinese stock returns. There is no evidence to support the hypothesis that growth in dividend yields can predict stock returns. The sectoral stock returns in China's markets are correlated with stock returns in the US markets as evidenced by: (i) a positive correlation with US stock returns; (ii) a significant negative error correcting term; (iii) a negative response of Chinese stocks to financial stress in the US market; and (iv) a positive correlation with a depreciation in the China/US exchange rate.
Metrics
Details
- Title
- Stock returns and economic forces—An empirical investigation of Chinese markets
- Creators
- Xiaoyu Chen - Shanghai Stock ExchangeThomas C. Chiang - Drexel University
- Publication Details
- Global finance journal, v 30, pp 45-65
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- [Retired Faculty]
- Web of Science ID
- WOS:000377520900004
- Scopus ID
- 2-s2.0-84975452369
- Other Identifier
- 991019167646204721
UN Sustainable Development Goals (SDGs)
This publication has contributed to the advancement of the following goals:
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Collaboration types
- International collaboration
- Web of Science research areas
- Business, Finance