Unanticipated Political Events and Stock Returns: An Event Study
作者： Jeetendra Dangol
DOI:
关键词: Politics 、 Restricted stock 、 Economics 、 Market reaction 、 Event study 、 Financial economics 、 Stock (geology) 、 Common stock 、 Stock market 、 Stock market bubble
摘要: The study focuses on market reaction to announcements of new unanticipated political events using the event analysis methodology. findings provide a consistent conclusion regarding existence information content hypothesis in Nepalese stock market. reveals that good-news (bad- news) generate positive (negative) abnormal returns post-event period. data present important evidence speed adjustment prices formation, i.e., as many 2 3 days from announcement date. Thus, this paper finds is inefficient at semi-strong level, but there strong linkage between uncertainty and common returns.
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