Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Department of Management | en_US |
| dc.creator | Lam, Kwok-yuen | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/1307 | - |
| dc.language | English | en_US |
| dc.publisher | Hong Kong Polytechnic University | - |
| dc.rights | All rights reserved | en_US |
| dc.title | Has the government of Hong Kong Special Administration Region restored the market stability after the intervention in the stock market | en_US |
| dcterms.abstract | The Asian financial crisis has caused devastating damages to the Asian countries' financial systems. Most Asian currencies had to be devalued and the stock markets were badly hit during the crisis. The Government of the Hong Kong Special Administrative Region managed to maintain the peg system by employing a high-interest-rate strategy. The stock market, however, could not withstand the huge selling pressure from speculators and hedge funds. Those short-term speculators pocketed handsome profits and left. One year after the Asian financial crisis, big speculators and hedge funds attacked Hong Kong dollar again so that they could make money in the stock market. The Hong Kong Government realized that if the speculators were not punished, they would keep coming back. On 14 August 1998, the government decided to intervene in the stock market by purchasing the Hang Seng Index constituent stocks. This paper examines the impact of such intervention to the stock market, and specifically analyses the volatility and liquidity of the stock market to assess the effectiveness of the intervention. While the intervention aimed to stabilize the market, the findings reveal that after the intervention, the volatility of the market intensified rather than reduced, and liquidity remained unchanged. The analysis results thus do not support the government's claim that intervention helped stabilize the stock market. | en_US |
| dcterms.extent | 57, [18] leaves : ill. ; 30 cm | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2001 | en_US |
| dcterms.educationalLevel | All Master | en_US |
| dcterms.educationalLevel | M.B.A. | en_US |
| dcterms.LCSH | Hong Kong Polytechnic University -- Dissertations | en_US |
| dcterms.LCSH | Finance -- China -- Hong Kong | en_US |
| dcterms.LCSH | Hong Kong (China) -- Economic conditions -- 1997- | en_US |
| dcterms.accessRights | restricted access | en_US |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| b16116148.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 2.78 MB | Adobe PDF | View/Open |
Copyright Undertaking
As a bona fide Library user, I declare that:
- I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
- I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
- I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.
Please use this identifier to cite or link to this item:
https://theses.lib.polyu.edu.hk/handle/200/1307