The effect of the Lehman brothers’ Bankruptcy on the performance of chinese sectors

• Autores: Kumari Ranjeeni, Susan Sunila Sharma
• Localización: Emerging Markets Finance & Trade, ISSN-e 1558-0938, Vol. 51, Nº. 5, 2015, págs. 904-914
• Idioma: inglés
• DOI: 10.1080/1540496x.2015.1061383
• Texto completo no disponible (Saber más ...)
• Resumen

  • 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