The Impact of the Hai Yang Shi You 981 Event on Vietnam's Stock Markets

Le, H, Park, D, Tran Cong Phu, K and Tran Nam, B 2018, 'The Impact of the Hai Yang Shi You 981 Event on Vietnam's Stock Markets', Journal of Emerging Market Finance, vol. 17, no. 3, pp. 344-375.

Document type: Journal Article
Collection: Journal Articles

Title The Impact of the Hai Yang Shi You 981 Event on Vietnam's Stock Markets
Author(s) Le, H
Park, D
Tran Cong Phu, K
Tran Nam, B
Year 2018
Journal name Journal of Emerging Market Finance
Volume number 17
Issue number 3
Start page 344
End page 375
Total pages 32
Publisher Sage Publications India Pvt. Ltd.
Abstract This study examines the extent to which the Hai Yang Shi You 981 (HD-981) event, the sudden deployment of a Chinese oil rig in disputed territorial waters near Paracel Islands in May 2014, affected the stock market performance of 20 sectors of the Vietnamese economy. The impact was measured in terms of stock returns, using daily data on stock market indices. The results strongly indicate that the HD-981 event significantly and negatively affected the overall performance of Vietnam's stock markets. There is, however, considerable variation across sectors. While most sectors which are heavily dependent on the economy of China were adversely affected, the impact on some sectors was negligible. By conducting this study on Vietnam's stock markets, we hope to generate implications and lessons for other emerging markets in the region.
Subject Financial Economics
Financial Econometrics
Keyword(s) Hai Yang Shi You 981
stock markets
event study
DOI - identifier 10.1177/0972652718798215
Copyright notice © 2018 Institute of Financial Management and Research.
ISSN 0972-6527
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