登入選單
返回Google圖書搜尋
Pricing Protest: The Response of Financial Markets to Social Unrest
International Monetary FundPhilip BarrettMariia BondarSophia ChenMali ChivakulDeniz Igan
出版International Monetary Fund, 2021-03-19
主題Business & Economics / GeneralBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Economics / GeneralBusiness & Economics / International / Economics & TradeBusiness & Economics / Finance / GeneralBusiness & Economics / Investments & Securities / Stocks
ISBN15135727689781513572765
URLhttp://books.google.com.hk/books?id=_jd5zgEACAAJ&hl=&source=gbs_api
註釋Using a new daily index of social unrest, we provide systematic evidence on the negative impact of social unrest on stock market performance. An average social unrest episode in an typical country causes a 1.4 percentage point drop in cumulative abnormal returns over a two-week event window. This drop is more pronounced for events that last longer and for events that happen in emerging markets. Stronger institutions, particularly better governance and more democratic systems, mitigate the adverse impact of social unrest on stock market returns.