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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | The Impact of Japanese Foreign Direct Investment in China on Shareholder Wealth |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 50 |
| Date | 2018 |
| Abstract Text | This study examines the short-term impact of the announcements of Japanese FDI in China on shareholder wealth. Investigating a sample of 76 Foreign Direct Investment announcements made by Japanese listed companies between 2010 and 2017, it is found that on average, there is no significant wealth effect on or around the announcement day. In the same event study results, the size of initial investment and the type of FDI are found to influence the magnitude of wealth effect. The wealth effect is larger if the announcement is about the small-sized initial investment. Also, the larger wealth effect is associated with the Sino-Japanese Joint Venture announcement, which is justified to be a linear relationship by the cross-sectional regression result. |
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