When China strikes: Quantifying Australian companies' stock price responses to China's trade restrictions
Tao Xiong,
Wendong Zhang,
Fangxiao Zhao
Abstract:In early 2020, China, Australia's top export market, unilaterally imposed trade restrictions on Australian barley, beef, coal, cotton, timber, copper and wine. However, convincing evidence regarding the effects of such trade restrictions on firms is scarce. Leveraging data on daily stock returns from 20 listed Australian and 32 listed Chinese firms that produce the restricted commodities, we provide the first systematic analysis of the firm‐level economic impacts of China's trade restrictions on Australian and… Show more
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