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The Effect of the Lehman Brothers’ Bankruptcy on the Performance of Chinese Sectors

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  • Kumari Ranjeeni
  • Susan Sunila Sharma

Abstract

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.

Suggested Citation

  • Kumari Ranjeeni & Susan Sunila Sharma, 2015. "The Effect of the Lehman Brothers’ Bankruptcy on the Performance of Chinese Sectors," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 51(5), pages 904-914, September.
    • Handle: RePEc:mes:emfitr:v:51:y:2015:i:5:p:904-914
    DOI: 10.1080/1540496X.2015.1061383
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    Cited by:

    1. Biswajit Patra & Puja Padhi, 2024. "Risk, Capital, And Inefficiency: A Study of Public Sector, Private, and Foreign Banks in India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 27(2), pages 327-350, May.
    2. Naidu, Dharmendra & Ranjeeni, Kumari, 2021. "Effect of coronavirus fear on the performance of Australian stock returns: Evidence from an event study," Pacific-Basin Finance Journal, Elsevier, vol. 66(C).

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