Impact of Deleveraging on the Liquidity Crisis of China's Stock Market
Authors
Zhiping Jiang, Li Tang
Corresponding Author
Zhiping Jiang
Available Online September 2019.
- DOI
- 10.2991/icemse-19.2019.167How to use a DOI?
- Keywords
- Liquidity crisis, Deleveraging, Short selling
- Abstract
It is generally believed that deleveraging is the main cause of the serious liquidity crisis in the Chinese stock market in 2015. Using the real data of Chinese stock market, this paper shows that crash risk of stock market during deleveraging can be reduced by allowing short selling, and short-selling restriction is the real cause of the liquidity crisis of the Chinese stock market.
- Copyright
- © 2019, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Zhiping Jiang AU - Li Tang PY - 2019/09 DA - 2019/09 TI - Impact of Deleveraging on the Liquidity Crisis of China's Stock Market BT - Proceedings of the 2019 3rd International Conference on Education, Management Science and Economics (ICEMSE 2019) PB - Atlantis Press SP - 724 EP - 727 SN - 2352-5428 UR - https://doi.org/10.2991/icemse-19.2019.167 DO - 10.2991/icemse-19.2019.167 ID - Jiang2019/09 ER -