Publication Date
2023
Document Type
Dissertation/Thesis
First Advisor
Wilcox, Virginia
Second Advisor
Cheng, Meg
Degree Name
Ph.D. (Doctor of Philosophy)
Legacy Department
Department of Economics
Abstract
This dissertation comprises two research strands. The first strand investigates the migration choices of parents in rural China and their specific impact on children's educational outcomes. The second strand delves into the realm of financial econometrics, focusing solely on the performance of two asset pricing models on days scheduled for important macroeconomic news announcements.
The first essay places emphasis on the migration decisions of two-parent households with school-aged children. The findings affirm the hypothesis that household characteristics, rather than each parent’s personal traits, play an important role in determining parents’ migration choices.
The second essay examines the short-run effects of parental migration choices on children's educational outcomes in rural China. The results indicate that parental migration does not affect children's performance in either reading or math.
The third essay evaluates the validity of the Capital Asset Pricing Model (CAPM) and the Fama-French Three Factor Model (FF3FM) on days when important macroeconomic news is scheduled for announcement. While the CAPM adequately explains average excess returns on some announcement days, the FF3FM generally outperforms the CAPM. However, it's important to note that these results might be period-specific. The validity of both models is not evident when exclusively testing announcement days during economic expansion periods.
Recommended Citation
Song, Yuqing, "Essays on Parental Migration in China and Performance of Two Asset Pricing Models" (2023). Graduate Research Theses & Dissertations. 7850.
https://huskiecommons.lib.niu.edu/allgraduate-thesesdissertations/7850
Extent
92 pages
Language
en
Publisher
Northern Illinois University
Rights Statement
In Copyright
Rights Statement 2
NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.
Media Type
Text
