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Impact assessment of international anti-dumping events on synchronization and comovement of the Chinese photovoltaic stocks

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  • Huang, Xuan
  • An, Haizhong
  • Fang, Wei
  • Gao, Xiangyun
  • Wang, Lijun
  • Sun, Xiaoqi

Abstract

This study investigated the effects of international anti-dumping events on the stock prices of the photovoltaic (PV) sector using sample data from China. Nine international anti-dumping events were tested using the event study methodology, and we found that most of them had significant impact on the stock returns of PV companies. Then, we chose a threshold value to construct stock networks for the different phases of the event development. We studied the changes in the scale and strength of the stock price synchronization, the evolution of the stock price co-movement and the stability of the co-movement between adjacent stocks by analyzing the changes in the topological structure of the stock networks. We found that the international anti-dumping events had different effects on the evolution of the synchronization and co-movement of the prices of Chinese PV stocks. In addition, the stock market of the PV sector exhibits high sensitivity to certain events. This study provides a novel approach that combines the event study methodology and stock-network analysis to help us to better understand the effects of anti-dumping on the PV stocks.

Suggested Citation

  • Huang, Xuan & An, Haizhong & Fang, Wei & Gao, Xiangyun & Wang, Lijun & Sun, Xiaoqi, 2016. "Impact assessment of international anti-dumping events on synchronization and comovement of the Chinese photovoltaic stocks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 459-469.
  • Handle: RePEc:eee:rensus:v:59:y:2016:i:c:p:459-469
    DOI: 10.1016/j.rser.2015.12.231
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    Cited by:

    1. Ming-Yuan Yang & Sai-Ping Li & Li-Xin Zhong & Fei Ren, 2018. "Modelling stock correlations with expected returns from investors," Papers 1803.02019, arXiv.org, revised Mar 2018.
    2. repec:eee:appene:v:196:y:2017:i:c:p:100-117 is not listed on IDEAS

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