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Leverage-Induced Fire Sales and Stock Market Crashes
Bian, Jiangze - 2018
We provide direct evidence of leverage-induced fire sales contributing to a market crash using account-level trading data for brokerage- and shadow-financed margin accounts during the Chinese stock market crash of 2015. Margin investors heavily sell their holdings when their account-level...
Persistent link: https://www.econbiz.de/10012911095
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Leverage-Induced Fire Sales and Stock Market Crashes
Bian, Jiangze - 2019
We provide direct evidence of leverage-induced fire sales contributing to a market crash using account-level trading data for brokerage- and shadow-financed margin accounts during the Chinese stock market crash of 2015. Margin investors heavily sell their holdings when their account-level...
Persistent link: https://www.econbiz.de/10012891427
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Leverage-induced fire sales and stock market crashes
Bian, Jiangze; He, Zhiguo; Shue, Kelly; Zhou, Hao - 2018
Persistent link: https://www.econbiz.de/10011916677
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Leverage-Induced Fire Sales and Stock Market Crashes
Bian, Jiangze - 2017
This paper provides direct evidence of leverage-induced fire sales leading to a major stock market crash. Our analysis uses proprietary account-level trading data for brokerage- and shadow-financed margin accounts during the Chinese stock market crash in the summer of 2015. We find that margin...
Persistent link: https://www.econbiz.de/10012946334
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Investor sentiment and stock price crash risk : evidence from China
Fan, Yunqi; Zhou, Fangzhao; An, Yunbi; Yang, Jun - In: Global economic review 50 (2021) 4, pp. 310-339
Persistent link: https://www.econbiz.de/10012694159
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Do we need to recover T + 0 trading? : evidence from the Chinese stock market
Wu, Yu; Qin, Fang - In: Emerging markets finance & trade : a journal of the … 51 (2015) 6, pp. 1084-1098
Persistent link: https://www.econbiz.de/10011561224
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"Speculative Influence Network" during financial bubbles : application to Chinese stock markets
Lin, Li; Sornette, Didier - In: Journal of economic interaction and coordination : JEIC 13 (2018) 2, pp. 385-431
Persistent link: https://www.econbiz.de/10011962258
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Does investor sentiment affect fund crashes? : evidence from Chinese open-end funds
Wang, Hu; Li, Shouwei; Ma, Yuyin; Jiang, Shuyang - In: The North American journal of economics and finance : a … 60 (2022), pp. 1-10
Persistent link: https://www.econbiz.de/10013449136
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Institutional investors' trading in speculation : evidence from China
Kong, Gaowen; Kong, Dongmin - In: The South African journal of economics 83 (2015) 4, pp. 617-631
Persistent link: https://www.econbiz.de/10011441963
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Investment strategies used as spectroscopy of financial markets reveal new stylized facts
Zhou, Wei-Xing; Mu, Guo-Hua; Chen, Wei; Sornette, Didier - 2011
financial and economic markets. We study the detailed order flow on the Shenzhen Stock Exchange of China for the whole year of … China, investment performance, illusion of control, trading frequency, arbitrage opportunities …
Persistent link: https://www.econbiz.de/10009273136