Doğuş Üniversitesi Dergisi

Yazarlar: Nikos CHRISTOFIS, Christos KOLLIAS, Stefanos PAPADAMOU, Apostolos STAGIANNIS

Konular:-

Anahtar Kelimeler:Event Study,Terrorism,Volatility,Istanbul Stock Market

Özet: Terrorist attacks can have a multitude of economic consequences that may adversely affect a number of economic sectors and activities including capital markets. This paper examines the impact of three major terrorist incidents on the Istanbul Stock Exchange, one of the major emerging markets internationally. The reaction of both the general index as well as sectorial indices is investigated. The findings reported herein indicate that the impact, although significant in certain cases, had only short-lived effects since the market rebound was fairly quick. Of the sectorial indices, the tourist industry is found to be more adversely affected by these events.

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