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The Influence of General Strikes against Government on Stock Market Behavior

Wisniewski, Tomasz Piotr; Lambe, Brendan John and Dias, Alexandra (2019). The Influence of General Strikes against Government on Stock Market Behavior. Scottish Journal of Political Economy (Early Access).

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DOI (Digital Object Identifier) Link: https://doi.org/10.1111/sjpe.12224
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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.

Item Type: Journal Item
Copyright Holders: 2019 Scottish Economic Society
ISSN: 1467-9485
Academic Unit/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)
Item ID: 60400
Depositing User: Tomasz Wisniewski
Date Deposited: 10 Apr 2019 10:52
Last Modified: 20 Nov 2019 11:40
URI: http://oro.open.ac.uk/id/eprint/60400
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