Information effects during the U.S. subprime crisis: Evidence from Asia-Pacific Region

Jengfang Chen*, Chunghuey Huang, Ming-Long Wang, Jia-Chi Cheng

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

7 Citations (Scopus)


We investigate the impact of the U. S. subprime crisis on the stock markets of the Asia-Pacific countries on various event dates. Using data from Hong Kong, Indonesia, Malaysia, Singapore, and Taiwan, we find that the subprime crisis negatively affects these stock markets and investor behavior, especially in Hong Kong and Taiwan. In addition, the subprime crisis generally works through more financial linkages than trade linkages. However, when the subsamples are classified according to industry, this result exists only for the banking industry, but both financial and trade linkages become important to explain the impact of the crisis on the manufacturing industry.
Original languageEnglish
Pages (from-to)75-86
Number of pages12
JournalEmerging Markets Finance and Trade
Issue number1
Publication statusPublished - 2010
Externally publishedYes


  • Information effects
  • MSCI Asia-Pacific Ex-Japan index
  • U. S. subprime crisis


Dive into the research topics of 'Information effects during the U.S. subprime crisis: Evidence from Asia-Pacific Region'. Together they form a unique fingerprint.

Cite this