本研究採用事件研究法探討2016年G20峰會其相關議題對於中國股票市場的影響。本研究以宣佈在中國舉行G20峰會的日期與G20峰會舉行當日作為這兩個事件點。我們將G20峰會提及的相關行業進行分別研究,包括1.農業,2.能源行業,3.金融業,4.無關行業。 本研究發現在宣佈日中國的農業股以及能源行業股為顯著的負向影響,金融業股為顯著的正向影響,無關行業則是沒有顯著的影響。在舉行日中國的農業股沒有顯著的影響,能源行業股多為顯著的正向影響,金融業股為顯著的負向影響,無關行業沒有顯著的影響,僅有建築業例外,為顯著的正向影響。在G20峰會重點討論的議題對中國股票市場都有顯著的影響。
The purpose of this study is to investigate the impact of related issues of G20 summit on China's stock market in 2016. We used event study method to explore respectively the effects of the announcement date and the hosting date of G20 summit in China on the stocks of the relevant industries which be mentioned by G20 summit, including Agriculture, Energy, Finance and Unrelated industries. The results found that the stocks of agricultural and energy industries have the significant negative abnormal returns, but financial industry displays the significant positive abnormal returns. In additional, the results showed that most of the energy and construction industries stocks have significant and positive abnormal returns on the date of hosting G20 summit. On the contrary, the abnormal returns of the financial industry were significant and negative. The impact of G20 on the abnormal returns of the agricultural and unrelated industries were insignificant. The key issues discussed at the G20 summit have a significant impact on China's stock market.