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The effect of the Lehman Brothers bankruptcy on the performance of Chinese sectors

Ranjeeni, Kumari and Sharma, Susan S. 2015, The effect of the Lehman Brothers bankruptcy on the performance of Chinese sectors, Emerging markets finance and trade, vol. 51, no. 5, pp. 904-914, doi: 10.1080/1540496X.2015.1061383.

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Title The effect of the Lehman Brothers bankruptcy on the performance of Chinese sectors
Author(s) Ranjeeni, Kumari
Sharma, Susan S.
Journal name Emerging markets finance and trade
Volume number 51
Issue number 5
Start page 904
End page 914
Total pages 11
Publisher Taylor & Francis
Place of publication London, Eng.
Publication date 2015
ISSN 1540-496X
1558-0938
Keyword(s) Abnormal returns
Chinese sectors
Event study
Global financial crisis
Lehman Brothers' bankruptcy
Social Sciences
Business
Economics
International Relations
Business & Economics
CAPITAL-MARKET EQUILIBRIUM
US FINANCIAL CRISIS
STOCK RETURNS
EMERGING MARKETS
EVENT
PRICE
HETEROGENEITY
INFORMATION
BEHAVIOR
MATTER
Summary We investigate the effect of the news announcement of the Lehman Brothers (LBs) bankruptcy on the performance of Shanghai Stock Exchange (SSE) sectors. Unlike the assumption in the literature that firms are homogenous, we address the unknown issue: Does LBs bankruptcy have a heterogeneous effect on stock returns of sectors listed on SSE? We find statistically insignificant effect of LBs bankruptcy on the performance of energy and financial sectors while most of the other sectors suffered significantly. Thus, our results highlight the heterogeneous effect of LBs bankruptcy on different sectors and at different time intervals surrounding the event.
Language eng
DOI 10.1080/1540496X.2015.1061383
Field of Research 150299 Banking, Finance and Investment not elsewhere classified
1502 Banking, Finance And Investment
1402 Applied Economics
Socio Economic Objective 970115 Expanding Knowledge in Commerce
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30085013

Document type: Journal Article
Collection: Faculty of Business and Law
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