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The Pre-Announcement Drift in China: Government Meetings and Macro Announcements
Jun Pan, Qing Peng, Mar 20, 2024Confirming Chinese equity market is policy-driven, this study reveals a significant pre-Govt return before top government meetings, akin to the US pre-FOMC drift. It highlights the market's anticipation of these events and their impact on asset pricing, underscoring the centralized financial system in China.
Cash in the Darkness
Haohan Ren, Kemin Wang, Bohui Zhang, Fan Zhang, Jan 12, 2024Relying on a large dataset on cash withdrawals of over 165 million bank cards from China, we find a higher ratio of cash withdrawals late at night is associated with criminal activity.
Financial Spillovers of Foreign Direct Investment: Evidence from China
Haoyuan Ding, Shu Lin, Shujie Wu, Haichun Ye, May 08, 2024Foreign Direct Investment (FDI) has enhanced the financial conditions of Chinese enterprises, particularly through the financial spillover effects generated by supply chain connections, which have helped to reduce the burden of trade credit and increase opportunities for bank financing.
Does Farming Culture Shape Household Financial Decisions?
Fang Yu, May 01, 2024This article discussing the collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.
Government Deleveraging and Non-SOE Liquidity Squeeze: Evidence from Subnational Debt and Government Contractors
Jiayin Hu, Songrui Liu, Yang Yao, Zhu Zong, May 15, 2024China's deleveraging policies have inadvertently exacerbated the financial liquidity pressure on non-state-owned enterprise (non-SOE) contractors, revealing the potential adverse impact of government fiscal consolidation on private enterprises.
