The effect of presidential election in the USA on stock return flow – a study of a political event

Obradović, Saša; Tomić, Nenad

doi:10.1080/1331677x.2017.1305802

Cited by 15 publications

(10 citation statements)

References 27 publications

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“…Some of them are non-significant and some are positive. Obradović and Tomić (2017) 85 companies (banks, investment banks, and insurance companies) whose securities are listed on the NYSE. In this study, they covered a six-month period for the estimation part, which started on May 6, 2012.…”

Section: Miletić (2011) Investigated the Connection Between Dividend mentioning

confidence: 99%

Effects of Economic and Political Events on Stock Returns: Event Study of the Agrokor Case in Croatia

Škrinjarić

Orlović

2019

CES

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Major events in Croatia regarding economy and politics in the last three years have been related to the Agrokor concern. Agrokor is one of the biggest companies/ concerns in Croatia and Southeastern Europe. Since some of Agrokor's stocks are listed on the Croatian stock market, the economic and political events regarding Agrokor have affected the stock market as well to an extent. In this study we observe the effects of several economic and political events on stock returns on the Zagreb Stock Exchange, by dividing the sample into two groups. The first group consists of Agrokor's stocks and the other group consists of stocks of other companies which are listed and frequently traded on the market. The methodology used in the study was event study, by using parametric and nonparametric tests. The results indicate that specific economic and political events

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Section: Miletić (2011) Investigated the Connection Between Dividend mentioning

confidence: 99%

Effects of Economic and Political Events on Stock Returns: Event Study of the Agrokor Case in Croatia

Škrinjarić

Orlović

2019

CES

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“…Previous studies, for example, Lumjiak, Treepongkaruna, Wee, and Brooks (2016), have checked for equal abnormal performance before and after the event day. Inequality may be interpreted as indicating structural changes (Lumjiak et al, 2016) or information dissemination (Obradovic & Tomic, 2017). This study tests the equality hypothesis.…”

Section: Model Estimation and Hypothesis Testsmentioning

confidence: 85%

“…Event study analyses are a popular approach to test these effects. For example, for developed markets, Niederhoffer, Gibbs, and Bullock (1970), Oehler, Walker, and Wendt (2013), and Obradovic and Tomic (2017) conducted studies in the U.S.A., while Leblang and Mukherjee (2005) studied both the U.S.A. and the U.K. For emerging markets, studies were conducted for Indonesia, Malaysia, Pakistan, and Taiwan by Imelda, Siregar, and Anggraeni (2014), Redzwan, Musa, Latip, Latif, and Rahman (2019), Khan, Jafri, Baig, Shaique, and Usman (2017), and Hung (2011), respectively. Moreover, Nimkhunthod (2007) performed a study on the Thai market, and Wong and Hooy (2016) studied the Indonesian, Malaysian, and Thai markets.…”

Section: Introductionmentioning

confidence: 99%

An Event Study Analysis of Thailand’s 2019 General Election: A Long Window of Multiple Sub-events

Khanthavit¹

2020

IJFR

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This study extends the conditional regression model for event study analyses to include sub-events related to the events under investigation. The extended model ensures that all relevant sub-events are included in the event window and their significant effects are not averaged out. The model is applied to analyze the effects of Thailand’s 2019 general election on stock market performance. Information on the election day and the sub-event days before and after the election day contributed to the significant election effects. The inclusion of sub-events in the analysis is important and useful.

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“…Informasi ekonomi dapat berupa perubahan manajemen, penerbitan saham baru, merger, pengungkapan laporan keuangan, akuisisi atau kebangkrutan. Peristiwa non-ekonomi biasanya terjadi karena faktor politik atau geostrategis (Obradovic & Tomic, 2017) dan (Sajid Nazir, Younus, Kaleem, & Anwar, 2014). Peristiwa politik maupun tindakan pemerintah memiliki potensi untuk mempengaruhi fluktuasi pasar modal, yang nantinya akan menentukan kesejahteraan keuangan masyarakat di suatu negara (Wisniewski, 2016).…”

Section: Pendahuluanunclassified

Reaksi Pasar terhadap Peristiwa Politik 2019 di Indonesia

Kemuning¹,

Prianthara²,

Wistawan³

2021

E-Jurnal Akuntansi

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This study examines the information content in political events in 2019, namely the appointment of the president and vice president and the announcement of the Kabinet Indonesia Maju. Market reaction is measured by abnormal returns, security return variability, and trading volume activity. The observation period in this study was five days before and after the event, with a sample of 20 companies affiliated with the winner of the election and 25 companies at the announcement of the Indonesian Maju Cabinet. The results of hypothesis testing indicate that there is a difference in the average abnormal return in the event of the appointment of the elected president and vice president, but there is no difference in security return variability and trading volume activity. Furthermore, hypothesis testing shows that there is a significant difference in average trading volume activity before and after the announcement of the Kabinet Indonesia Maju, but there is no difference in abnormal return and security return variability. Keywords: Market Efficiency; Event Studies; Abnormal Returns; Security Return Variability; Trading Volume Activity.

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The effect of presidential election in the USA on stock return flow – a study of a political event

Cited by 15 publications

References 27 publications

Effects of Economic and Political Events on Stock Returns: Event Study of the Agrokor Case in Croatia

Effects of Economic and Political Events on Stock Returns: Event Study of the Agrokor Case in Croatia

An Event Study Analysis of Thailand’s 2019 General Election: A Long Window of Multiple Sub-events

Reaksi Pasar terhadap Peristiwa Politik 2019 di Indonesia

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