Title:

Do government interventions affect China’s stock market? Case study – analysis of the asset bubble in 2015–2016

Group publication title:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Creator:

Bieliński, Tomasz ; Markiewicz, Magdalena ; Mosionek-Schweda, Magdalena

Subject and Keywords:

China ; stock exchange ; shares ; market inefficiency ; investment ; capital control ; Shanghai Composite ; Chiny ; giełda papierów wartościowych ; akcje ; nieefektywność rynku ; inwestycje ; interwencjonizm

Description:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics, 2017, Nr 486, s. 217-227

Abstrakt:

The aim of the paper is to evaluate the effects of the intervention of the Chinese government undertaken during the 2015–2016 crisis on the Shanghai Stock Exchange (SSI). The following research hypothesis was set up: in the long run, both the initial efforts of the Chinese authorities to drive individual investors to invest in stock exchanges along with the interventions launched by the government to stop the market falls were not relevant to stock valuation. The study results have proven that in the analysed time monetary authorities, as well as government and regulatory bodies, generated many decisions and announcements which were expected to influence the behaviour of the stock exchange investors. In short term it created artificially market anomalies, observed between the Q4 2014 and Q1 2016. The interventions interfered with the long term growth trend of SSI index, however did not shift this trend and after interventions ended it was apparently ongoing and not disturbed until 2017

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2017

Resource Type:

artykuł

Format:

application/pdf

Resource Identifier:

doi:10.15611/pn.2017.486.18

Language:

eng

Relation:

The Development Challenges of Asia-Pacific Countries ; Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2017; Nr 486

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu