Liao Wenqiang, Bai Caiquan, Jiang Zhengyi, Lv Jichao

(School of Economics and Management, Nanchang University, Nanchang, 330031, China)

Abstract: After QE3 (the third round of quantitative easing) was carried out by the Federal Reserve, some relevant countries show varied attitudes to the impact of this policy on each aspect of the United States. This article aims to briefly analyze the impact of QE3 on China’s Gold Section Stocks. We selected eight stocks from China’s Gold Section as samples to study and regarded the ten days around the publication of QE3 as Event Window, then calculated the Average Abnormal Return and Cumulative Average Abnormal Return of every stock by using the method of “Event Study”. In this way it conducted empirical research on the impact of QE3 on China’s Gold Section Stocks. The outcome indicates that QE3 made a significant impact on China’s Gold Section Stocks.

本文已发表在《Advances in Information Sciences and Service Sciences》，2013(6): 866-873.