The impact of Sino-US trade friction on the performance of China's textile and apparel industry

被引：33

作者：

Ye, Maosheng ^{[1
]}

Shen, Jim H. ^{[2
,3
,4
]}

Golson, Eric ^{[5
]}

Lee, Chien-Chiang ^{[6
]}

Li, Yuting ^{[7
]}

机构：

[1] Wuhan Text Univ, Ctr Ind Econ Res, Sch Econ & Management, Wuhan, Peoples R China

[2] Fudan Univ, Sch Management, Dept Appl Econ, Shanghai, Peoples R China

[3] Harvard Univ, Harvard Kennedy Sch, Ctr Int Dev, Growth Lab, Cambridge, MA 02138 USA

[4] Univ Navarra, Core China Res Ctr, Sch Econ & Business, Pamplona, Spain

[5] Univ Surrey, Dept Econ, Guildford, Surrey, England

[6] Nanchang Univ, Sch Econ & Management, Nanchang, Jiangxi, Peoples R China

[7] Peking Univ, Inst New Struct Econ, Beijing, Peoples R China

来源：

INTERNATIONAL FINANCE | 2022年 / 25卷 / 02期

关键词：

Baidu index; event analysis; Sino-US trade friction; stock returns; textile and apparel industry; STOCK; RETURNS;

D O I：

10.1111/infi.12413

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study applies the event-analysis method and takes three Chinese listed textile and apparel companies that are representative of the upstream, midstream, and downstream of the textile value chain as research objects. By tracking the Baidu index trend of the keyword "trade war" to identify the 'time window' for each iconic event, we apply the autoregressive distributed lag approach to examine the impact of important landmark events on the performance of these companies during the period of Sino-US trade friction in 2018. We find that the impact diminished over time. Additionally, compared with upstream companies, midstream and downstream companies were hurt more. However, the risks were generally controllable.

引用

页码：151 / 166

页数：16

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