Czy pochodzenie państwowego kapitału determinuje reakcję inwestorów? Przypadek państwowych funduszy majątkowych na chinskim rynku gieldowym
Does the Origin of State Capital Determine the Market Reaction? The Case of Sovereign Wealth Funds on the Chinese Stock Market

Summary/Abstract: This article deals with the issue of state capitalism through the lens of investment activity of sovereign wealth funds. Using linear regression models, the author aimed at answering the research question whether the origin of money invested by domestic and foreign sovereign wealth funds determine market reaction to the disclosure of information about the transaction made on Chinese stock markets. The empirical findings do not support the hypothesis that abnormal returns and cumulative abnormal returns differ between information disclosure about transaction carried out by Chinese and foreign sovereign wealth funds.

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