The Influence Mechanism of Overseas Investment Bank Rating On Stock Fluctuation of Chinese Internet Enterprises in a Credit Crisis
نویسندگان
چکیده
Whether the efficiency information of China's Internet enterprises which are listed overseas can be effectively transferred to capital market during a credit crisis, the rating information provided by investment banks should be a crucial bridge for listed firms and investors. In order to probe the influence mechanism of the rating information provided by investment bank, we choose Chinese concept stocks related to a credit crisis in the United States capital market in 2011 to do our empirical research. Our study found that, the timing of release of rating reports, target stock price and enterprise target market play significant influence on the fluctuation of stock prices, and the ranking of investment bank has played an important moderating role.
منابع مشابه
Efficiency Frontier for Chinese Stock Markets under Influence of Financial Crises
Financial crises, like Asian financial crisis in 1997 and credit crunch from USA in 2007, have huge influence worldwide. For the importance and uniqueness of China’s stock market, it is interesting and attractive to research it under influence of financial crises. The purpose for this research is to find out the influence of financial crises on Chinese stock market and focus on efficiency front...
متن کاملAnalyzing the Impact of Credit Ratings on Firm Performance and Stock Returns: Evidence from Taiwan
The respective study covers three aspects; factors determining credit rating, credit rating impact on performance of entities and the relation between stock returns and credit rating. The study focuses on the firms listed in Taiwan Stock Exchange (TSE) of Taiwan. The empirical analysis uses the data of 50 firms rated by Taiwan Ratings Corporation (TRC) for the period 2010-2015. Two estimation t...
متن کاملModeling of investment attractiveness of countries using entropy analysis of regional stock markets
The current study focuses on the problem of determining investment attrаctiveness of countries by means of monitoring regional stock markets. The method of using the permutation entropy as a model of investment attractiveness estimation is suggested. We have calculated the permutation entropy for the time series of stock markets of countries for the period from 2005 to 2018. The countries with ...
متن کاملCredit Financing, Financing Constraints and Enterprise Investment Efficiency: A Comparative Study of Manufacturing Enterprises in China and India
At present, there is no consensus in the literature concerning the influence of different credit financing on investment efficiency of enterprises, especially the lack of empirical evidence in developing countries. In this paper, based on the World Bank enterprise survey data, using the Heckman sample selection model, we study the effects of bank credit and trade credit on investment efficiency...
متن کاملAnalysis of the Asymmetric Impact of Macroeconomic Factors on credit to the Private Sector During the Boom and Credit Crisis
The trend of bank lending can help to predict future economic conditions, so that too fast or slow credit growth may indicate financial or economic crises. In the Iranian economy, most of the financial resources required by economic enterprises are provided through the provision of facilities by the banking network. Therefore, it is very important for policymakers to know the factors influencin...
متن کامل