Research on microeconomic fundamentals of international financial Risk transmission : based on company data Angle

hongquan Li


The Global spread of financial integration and financial turmoil is a prominent feature of international financial markets today . This , through corporate data research aims to uncover microeconomic fundamentals of linkage and contagion . specifically , This article is built _ Sample of macro-microeconomic characteristics of typical listed companies in China , subprime crisis in America machine and subsequent euro debt crisis for typical events , Study and reveal the contagion of international financial market to China's capital market Channel and its heterogeneity impact . results show : companies with export competition in crisis countries , Direct trade with crisis state easy to exchange company , And companies that are more reliant on short-term debt are performing worse during the crisis . Research conclusion Validate product competitiveness , revenue effects and credit crunch are the main channels for contagion. , and illiquid assets Combination adjustment pressure does not appear on our market .


Global financial crisis financial contagion mechanism company data jel category number : F G[] [] [* *] G Ten

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DOI: https://doi.org/10.18282/ff.v0i0.478


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