Many hands make light work: Evidence from China’s anti-epidemic bonds

Ning Shi, Ying Wang and Wenzhe Chen

Economics Letters, 2022, vol. 214, issue C

Abstract: Based on China’s anti-epidemic bond data, this paper investigates stock market reactions to the anti-epidemic bond issuance announcements during the COVID-19 pandemic. We find that anti-epidemic bond issuance significantly increases the cumulative abnormal return (CAR) compared with conventional bond issuance.

Keywords: Anti-epidemic bonds; Stock market reaction; COVID-19; Cumulative abnormal return (search for similar items in EconPapers)
JEL-codes: G12 G14 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:214:y:2022:i:c:s0165176522000866

DOI: 10.1016/j.econlet.2022.110426

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