Title: Research on the impact of Fintech event on Chinese commercial banks' stock price

Authors: Ting Zhang; Yiqi Zhuang

Addresses: Business School, University of Shanghai for Science and Technology, Shanghai, China ' Business School, University of Shanghai for Science and Technology, Shanghai, China

Abstract: The banking industry, a traditional financial industry, has entered the digital age and positioned Fintech as an important role in business model transformation and service upgrading. Fintech events of Chinese large commercial banks between 2016 and 2019 are taken as research samples, and the research shows that the release of the Fintech has a positive effect on commercial bank's stock price but has a time lag. From the short-term perspective, after the fourth day, the event began to bring statistically significant and positive effect to the commercial stock price, and until the eighth day, the positive impact of the event was biggest. Also, the abnormal return rate CAR (Cumulative average abnormal return) brought by Fintech events is negatively correlated with the banks' market prices and ROE (Return on Equity), and is positively correlated with the length of listing, and has no statistically significant correlation with SOE (state-owned sized enterprise).

Keywords: Fintech events; commercial banks; stock price.

DOI: 10.1504/IJWMC.2020.106781

International Journal of Wireless and Mobile Computing, 2020 Vol.18 No.3, pp.289 - 294

Received: 27 Dec 2019
Accepted: 09 Jan 2020

Published online: 31 Mar 2020 *

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