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Full-Text Articles in Social and Behavioral Sciences
The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China, Yu Zeng
The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China, Yu Zeng
Dissertations and Theses Collection (Open Access)
In this paper we examine how stock returns in China respond to monetary policy announcements made by PBC in a short term around announcement day. We employ a nonparametric event-study method to investigate such reactions. We arrive at the following conclusions. Firstly, there is information leakage of monetary policy changes, which is verified by significant changes in stock returns before monetary policy announcement and quitness of stock market after announcement. Secondly, financially constrained and financially unconstrained firms respond quite similarly to monetary policy shocks, which disobeys credit channel of monetary policy transmission in the short run. Thirdly, reserve ratio changes …
Stock Markets And Income Inequality: A Cross-Country Study, Elizabeth Mathew
Stock Markets And Income Inequality: A Cross-Country Study, Elizabeth Mathew
Dissertations and Theses Collection (Open Access)
This paper conducts a comprehensive analysis to understand how stock market ratios affect net income inequality. The study of how finance impacts income distribution is relevant as the income distribution of a nation influences savings decisions, resource allocation, innovation incentives and public policy and hence impacts the process of economic development. Using a cross-sectional data set of 68 countries and panel data set of 61 countries from 1975 to 2005, I apply cross-sectional OLS and panel regressions to look at how stock market size, liquidity, and activity impact income inequality. While stock market size is found to strongly impact income …