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001-es BibID:	BIBFORM100895
Első szerző:	Li, Chunling
Cím:	Impact of Sovereign Credit Rating Disclosure on Chinese Financial Market / Chunling Li, Khansa Pervaiz, Muhammad Asif Khan, Muhammad Atif Khan, Judit Oláh
Dátum:	2022
ISSN:	2158-2440
Megjegyzések:	The sustainable economic role of the financial markets is essential for a trade-dependent economy such as China. Notably, the Chinese financial market has shown some unpleasant trends over the past two decades, coupled with the mounting national debt. Most of the earlier literature on the impact of the sovereign credit rating (SCR) on the financial market development (FMD) of China is confined to the event study approach, which provides policy input for short-term decision making. In this scenario, it is worthwhile investigating how the SCR asymmetrically affected the FMD of China and the threshold point (level) where the relationship of SCR-FMD turns non-linear. The Non-Linear Autoregressive Distributed Lag model's empirical findings show that the reaction of FMD to SCR disclosure is asymmetric. In addition, the result of the threshold estimator finds a single threshold level of 3.628 above which the relationship of SCR-FMD turns non-linear. It is important to note that up to a threshold of 3.628 the coefficient is ?.516 and ?.627 which turns positive afterwards, no matter whether the variation explained is relatively less with the coefficient of .058 and .056 respectively. This implies that policymakers and regulators need to consider this benchmark of 3.628 to formulate future policy matters related to the equity market.
Tárgyszavak:	Társadalomtudományok Gazdálkodás- és szervezéstudományok idegen nyelvű folyóiratközlemény külföldi lapban folyóiratcikk
Megjelenés:	SAGE Open. - 2022 (2022), p. 1-13. -
További szerzők:	Pervaiz, Khansa Khan, Muhammad Asif (1976-) (közgazdász) Khan, Muhammad Asif (1976-) (közgazdász) Oláh Judit (1973-) (agrárközgazdász, logisztika)
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001-es BibID:	BIBFORM082257
035-os BibID:	(cikkazonosító)6636 (WOS)000508186400108 (Scopus)85076674024
Első szerző:	Li, Chunling
Cím:	On the Asymmetries of Sovereign Credit Rating Announcements and Financial Market Development in the European Region / Chunling Li, Khansa Pervaiz, Muhammad Asif Khan, Faheem Ur Rehman, Judit Oláh
Dátum:	2019
ISSN:	2071-1050
Megjegyzések:	In modeling the impact of sovereign credit rating (CR) on financial markets, a considerable amount of the literature to date has been devoted to examining the short-term impact of CR on financial markets via an event-study methodology. The argument has been established that financial markets are sensitive to CR announcements, and market reactions to such announcements (both upgrading and degrading) are not the same. Using the framework of an autoregressive distributed lag setting, the present study attempted to empirically test the linear and non-linear impacts of CR on financial market development (FMD) in the European region. Nonlinear specification is capable to capture asymmetries (upgrades and downgrades) in the estimation process, which have not been considered to date in financial market literature. Overall findings identified long-term asymmetries, while there was little evidence supporting the existence of short-term asymmetries. Thus, the present study has extended the financial market literature on the subject of the asymmetrical impact of a sovereign CR on European FMD and provides useful input for policy formation taking into account these nonlinearities. Policies solely based upon linear models may be misleading and detrimental.
Tárgyszavak:	Társadalomtudományok Gazdálkodás- és szervezéstudományok idegen nyelvű folyóiratközlemény külföldi lapban folyóiratcikk
Megjelenés:	Sustainability. - 11 : 23 (2019), p. 1-14. -
További szerzők:	Pervaiz, Khansa Khan, Muhammad Asif (1976-) (közgazdász) Rehman, Faheem Ur Oláh Judit (1973-) (agrárközgazdász, logisztika)
Internet cím:	Szerző által megadott URL DOI Intézményi repozitóriumban (DEA) tárolt változat
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