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The q-theory of asset pricing predicts a negative relation between a firm's investment and its future stock returns, and the negative relation is stronger among firms with higher investment frictions. These predictions arise from each firm's decision. Therefore, testing it does not require that...
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concern over the "Trade War" between the US and China. We evaluate the market responses to this event for firms in both … countries, depending on their direct and indirect exposures to US-China trade. US firms that are more dependent on exports to … and imports from China have lower stock and bond returns but higher default risks in the short time window around the …
Persistent link: https://www.econbiz.de/10011927558
While China has signed non-legally binding Belt and Road Initiative (BRI) agreements with more than 100 countries, the … that China’s BRI facilitates economic integration between China and relationship countries …
Persistent link: https://www.econbiz.de/10013404177
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The combination of American excess consumption and China's financial extravaganza in accumulating US treasuries has … partnership can be sustained by concentrating on the Chinese side of the story, i.e. to what extent China may continue to … governance elements, China's American treasury holdings are now so large that the management of this colossal wealth has assumed …
Persistent link: https://www.econbiz.de/10013132066
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the industry and commuting-zone levels, and then estimates the impact of the `China shock' on each job-flow type. The … China shock is accounted for by either the increase in Chinese import penetration in the U.S., or by the U.S. policy change … that granted Permanent Normal Trade Relations (PNTR) status to China. We find that the China shock affects U.S. employment …
Persistent link: https://www.econbiz.de/10012941975
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the industry and commuting-zone levels, and then estimates the impact of the `China shock' on each job-flow type. The … China shock is accounted for by either the increase in Chinese import penetration in the U.S., or by the U.S. policy change … that granted Permanent Normal Trade Relations (PNTR) status to China. We find that the China shock affects U.S. employment …
Persistent link: https://www.econbiz.de/10012453633
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