Impact assessment of international anti-dumping events on synchronization and comovement of the Chinese photovoltaic stocks

Xuan Huang, Haizhong An, Wei Fang, Xiangyun Gao, Lijun Wang and Xiaoqi Sun

Renewable and Sustainable Energy Reviews, 2016, vol. 59, issue C, 459-469

Abstract: This study investigated the effects of international anti-dumping events on the stock prices of the photovoltaic (PV) sector using sample data from China. Nine international anti-dumping events were tested using the event study methodology, and we found that most of them had significant impact on the stock returns of PV companies. Then, we chose a threshold value to construct stock networks for the different phases of the event development. We studied the changes in the scale and strength of the stock price synchronization, the evolution of the stock price co-movement and the stability of the co-movement between adjacent stocks by analyzing the changes in the topological structure of the stock networks. We found that the international anti-dumping events had different effects on the evolution of the synchronization and co-movement of the prices of Chinese PV stocks. In addition, the stock market of the PV sector exhibits high sensitivity to certain events. This study provides a novel approach that combines the event study methodology and stock-network analysis to help us to better understand the effects of anti-dumping on the PV stocks.

Keywords: Chinese photovoltaic sector; Stock network; Event study; Synchronization; Comovement (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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DOI: 10.1016/j.rser.2015.12.231

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