Stock price reactions to Sino-European joint ventures |
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| Affiliation: | 1. Department of Nutritional Sciences, The Pennsylvania State University, University Park, PA, USA;2. Brain and Metabolism Imaging in Chonic Disease, LSU Pennington Biomedical Research Center, Baton Rouge, LA, USA;3. Clermont Université, Université Blaise Pascal, Laboratoire de Psychologie Sociale et Cognitive, BP 10448, F-63000 Clermont-Ferrand, France;4. CNRS, UMR 6024, LAPSCO, F-63037 Clermont-Ferrand, France;5. Clermont-Ferrand University hospital, Biostatistics unit (DRCI), Clermont-Ferrand, France;6. Department of Human Nutrition, Clermont-Ferrand University Hospital, G. Montpied Hospital, Clermont-Ferrand, France;7. University Clermont 1, UFR Medicine, Clermont-Ferrand, France;8. INRA, UMR 1019, Clermont-Ferrand, France;9. CRNH-Auvergne, Clermont-Ferrand, France;10. Department of Sport Medicine and Functional Explorations, Clermont-Ferrand University Hospital, G. Montpied Hospital, Clermont-Ferrand, France;11. Department of Food Science, The Pennsylvania State University, University Park, PA, USA;12. Clermont Auvergne University, EA 3533, Laboratory of the Metabolic Adaptations to Exercise under Physiological and Pathological Conditions (AME2P), Clermont-Ferrand, France;1. Clermont University, Blaise Pascal University, EA 3533, Laboratory of the Metabolic Adaptations to Exercise under Physiological and Pathological Conditions (AME2P), Clermont-Ferrand, France;2. CRNH-Auvergne, Clermont-Ferrand, France;3. Healthy Active Living and Obesity Research Group, Children''s Hospital of Eastern Ontario Research Institute, Ottawa, Ontario, Canada;4. Department of Pediatrics, University of Ottawa, Ottawa, Ontario, Canada;5. INRA, UMR 1019, Clermont-Ferrand, France;6. Clermont University, University of Auvergne, Unité de Nutrition Humaine, BP 10448, F-63000 Clermont-Ferrand, France;7. Department of Sport Medicine and Functional Explorations, University-Hospital (CHU), G. Montpied Hospital, F-63003 Clermont-Ferrand, France |
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| Abstract: | Do European investments in China create shareholders’ value? The question is posed, but does not ask for a definite answer. Many factors have to be considered when analyzing the valuation effect of European direct investment in China and its determinants. The aim of this article is to better understand the real impact of the Sino-European joint venture announcements on the stock market value of the European partners. First of all, on the basis of an event study methodology, this article presents empirical observations of the share price reactions in different European stock markets to 68 Sino-European joint venture announcements. |
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