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Wisniewski, Tomasz Piotr; Lambe, Brendan John and Dias, Alexandra
(2020).
DOI: https://doi.org/10.1111/sjpe.12224
Abstract
Using a sample of 76 countries, this paper examines the impact of major strikes against government and its policies on stock market behavior. An occurrence of a general strike is detrimental to the value of equities, as documented by the ceteris paribus 6.11% fall in dollar-denominated stock market indices of the affected countries. This event is also accompanied by a statistically significant increase in risk, as measured by the standard deviation of returns and Value-at-Risk metrics. Taken together, these results imply that general strikes have serious ramifications for stock market investors.
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- Item ORO ID
- 60400
- Item Type
- Journal Item
- ISSN
- 1467-9485
- Academic Unit or School
-
Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL) - Copyright Holders
- © 2019 Scottish Economic Society
- Depositing User
- Tomasz Wisniewski