Since 2014
The Mergers & Acquisitions Market Trends and Stock Market of China
International Business and Management
View Archive Info| Field | Value | |
| Title |
The Mergers & Acquisitions Market Trends and Stock Market of China
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| Creator |
Hao, ZHONG
Yu, DONG |
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| Subject |
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M&A market stock volatility; Empirical mode decomposition (EMD) — |
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| Description |
Since the 90s of last century, there is a substantial increase of the Chinese equity market and M&A market. In order to explain the phenomenon of the rapid development of Chinese M&A market, the paper introduced EMD method to divide the data into a number of cycle terms, and tried to use the stock market volatility information to explain the factors of Chinese M&A market. Specifically, M&A market time series data and the Shanghai Composite time series data are decomposed into multi-scale time series using EMD method. Three key components of high-frequency, low-frequency items and trends items, respectively, use Pearson correlation test of the corresponding component. Results showed that trends items of M&A market and stock market are highly correlated, the low-frequency items moderate correlation, and high-frequency items completely unrelated. The stock market index series carry sufficient information of macroeconomic, government policy and investor behavior information, so analysis of the factors China’s M&A market could be discussed indirectly through stock market volatility. The findings indicate that sustained growth of China’s macro economy is the main cause of China’s M&A market development, and industrial restructuring, government policies and short-term capital markets irrational investment behavior are important factors of China’s M&A fluctuations. Key words: M&A market stock volatility; Empirical mode decomposition (EMD)
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| Publisher |
Canadian Research & Development Center of Sciences and Cultures
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| Contributor |
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| Date |
2014-05-06
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article — |
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| Format |
application/pdf
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| Identifier |
http://www.cscanada.net/index.php/ibm/article/view/4587
10.3968/%x |
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| Source |
International Business and Management; Vol 8, No 2 (2014): International Business and Management; 112-119
1923-8428 1923-841X |
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| Language |
eng
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| Relation |
http://www.cscanada.net/index.php/ibm/article/view/4587/pdf_50
http://www.cscanada.net/index.php/ibm/article/downloadSuppFile/4587/48 |
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