Wisniewski, Tomasz Piotr; Lambe, Brendan John and Dias, Alexandra
(2019).
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(Accepted Manuscript)
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| DOI (Digital Object Identifier) Link: | https://doi.org/10.1111/sjpe.12224 |
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| Google Scholar: | Look up in Google Scholar |
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 |
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| 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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