The Influence Of P2P Regulatory Events On Listed Banks' Stock Prices

The rapid emergence of Internet finance,which has rapidly emerged with the development of the Internet,has threatened traditional financial institutions represented by banks in many aspects.The P2P industry,as a representative of the rapid development of Internet finance,is also experiencing rapid expansion,but it is also facing self-discipline.Road,the establishment of a capital pool and many other issues.The P2P industry regulatory policy came on schedule on August 24,2016.The negative impact of regulatory policies from the tight P2P platform is obvious.This article is more concerned with the reaction of banks that have a certain competitive relationship with the P2P platform after the introduction of regulatory policies.Investors believe that this regulatory incident is good or bad for bank stocks,or that it has no effect at all and reflects how the bank's stock price fluctuates.The occurrence of P2P industry regulatory incidents gave us a good opportunity to observe the impact of the P2P industry on the strength of banks.In this paper,based on the literatures on how the P2P influences the bank's stock price fluctuations and regulatory events at the time of its occurrence,the paper sorted out some possible factors that may affect the changes in bank stock prices.After describing in detail the development of the P2P platform and the legal and regulatory aspects of P2P supervision,and combining the relevant theories that affect the bank' s share price,we discussed the impact of regulatory events on the various indicators of the listed banks,which is reflected in the bank ' s stock price.The fluctuations.This paper discusses the specific impact of P2P platform supervision events on the bank's stock price from the three perspectives of liquidity,profitability and security,and discusses regulatory events affecting the stock prices of listed banks from three perspectives of profitability transmission,safety perspective transmission and psychological expectation transmission.The conduction mechanism.Subsequently,through the mathematical model of the incident research method,16 banks listed on the Shanghai and Shenzhen stock markets were divided into two groups,state-owned banks and non-state-owned banks.The average abnormal return rate of the two sample groups during the event window period was calculated,and cumulative average abnormal return was calculated.Rate,and significant test,and finally draw empirical conclusions and analysis.On the basis of empirical research,this paper concludes that regulatory events have an impact on listed state-owned banks but have little strength.Regulatory events have a significant impact on listed non-state-owned banks.The impact of P2P regulatory policy events on the overall performance of listed banks is not strong.From the empirical conclusion,the P2P regulatory incident has a greater impact on non-state-owned banks,which means that the P2P industry has a greater threat to non-state-owned banks.In the short term,Internet finance represented by P2P cannot pose a threat to state-owned banks,but it is gradually eroding the inherent business of non-state banks.Non-state-owned banks should use their traditional advantages to dig deeper into data values;vigorously build light banks and develop e-banking;attach importance to the demands of small and medium-sized customers and meet the diversified needs of customers in response to the impact of Internet financial institutions such as P2P.