Change of Loan Interest and Listed Companies of Real Estate: An Event Study for China
Event study methodology was used in economic and finance fields widely. This paper conducted an event study to examine whether share-prices of real estate listed companies respond to the changes of one-year loan interest. Real estate listed companies played important roles on the real estate industry. Much capital in the real estate market came from its listed companies by financing. The shareprices in listed companies of real estate industry affect the financing movements indirectly. In last several years, monetary authority changed the loan interest in many times for change the prices of houses. Whether changes of one-year loan interest affect the share-prices of real estate listed companies can make an impact on the real estate market, and is important for monetary authority to push the next policy. We selected changes of loan interest from 2007 to 2008 as the events, and the share-prices of the whole listed real estate companies. By conducting abnormal return model and examining it, we took a look at whether the changes of loan interest affected the listed companies of real estate, and put forward the suggestions and comments.
real estate listed company one-year loan interest event study
WANG Xiaomei YAO Fengge ZHANG Lei
School of Tourism Cook, HarbinUniversity of Commerce, Harbin, China 150028 School of Finance, Harbin University of Commerce,Harbin, China 150028 School of Finance, Harbin University of Commerce, Harbin, China 150028
国际会议
2009 International Conference on Construction & Real Estate Management(2009建设与房地产管理国际会议)
北京
英文
1212-1215
2009-11-05（万方平台首次上网日期，不代表论文的发表时间）