The impact of terrorism on Indian securities market

Shaikh, Imlak

doi:10.1080/1331677x.2019.1638284

Cited by 11 publications

(4 citation statements)

References 54 publications

(61 reference statements)

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“…An emerging body of related literature can mainly be categorized in studies on the effect of terrorism on stock indices in emerging markets (Shaikh, 2019;Bassil, Hamadi, & Bteich, 2018;Orbaneja, Iyer, & Simkins, 2018;Shahzad, Stauvermann, Kumar, & Ahmad, 2017;Mnasri & Salem, 2016;Alam, 2012), the effect of terror attacks on stock markets of developed regions (Bevilacqua, Morelli, & Uzan, 2020;Ramiah, Wallace, Veron, Reddy, & Elliott, 2019;Corbet et al, 2018;Narayan, Le, & Sriananthakumar, 2018;Hudson & Urquhart, 2015;Kollias, Papadamou, & Arvanitis, 2013;Kollias, Kyrtsou, & Papadamou, 2013;Nikkinen and V€ ah€ amaa, 2010 ;Chuli a, Climent, Soriano, & Torro, 2009;Johnston & Nedelescu, 2006), and the effect of terrorism on international stock markets (Park & Newaz, 2018;Goel, Cagle, & Shawky, 2017;Coleman, 2012;Brounen & Derwall, 2010;Arin et al, 2008;Chen & Siems, 2004).…”

Section: Literature Reviewmentioning

confidence: 99%

Terrorism and its impact on the stock market: broad results from Tunisia

Saad

2024

LBSJMR

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PurposeThe purpose of this study is to investigate the impact of terrorist attacks on the volatility and returns of the stock market in Tunisia.Design/methodology/approachThe employed sample comprises 1250 trading day from the Tunisian stock index (Tunindex) and stock closing prices of 64 firms listed on the Tunisian stock market (TSM) from January 2011 to October 2015. The research opts for the general autoregressive conditional heteroscedasticity (GARCH) and exponential generalized conditional heteroscedasticity (EGARCH) models framework in addition to the event study method to further assess the effect of terrorism on the Tunisian equity market.FindingsThe baseline results document a substantive impact of terrorism on the returns and volatility of the TSM index. In more details, the findings of the event study method show negative significant effects on mean abnormal returns with different magnitudes over the events dates. The outcomes propose that terrorism profoundly altered the behavior of the stock market and must receive sufficient attention in order to protect the financial market in Tunisia.Originality/valueVery few evidence is found on the financial effects of terrorism over transition to democracy cases. This paper determines the salient reaction of the stock market to terrorism during democratic transition. The findings of this study shall have relevant implications for stock market participants and policymakers.

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Section: Literature Reviewmentioning

confidence: 99%

Terrorism and its impact on the stock market: broad results from Tunisia

Saad

2024

LBSJMR

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“…A study in Kenya by Ouma and Were (2018, p. 23) added that it could lead to a rise in non-performing loans. Iankova et al (2018, p. 2141) analysis of how terrorism has affected the European financial sector stated that terrorism had a small negative effect on bank stock prices, with a limited overall impact on the banking sector. However, banks in an open, competitive and stable political system enjoy high operational efficiency.…”

Section: Literature Reviewmentioning

confidence: 99%

Terrorism and economic governance in Africa: analysis of the impact of Boko-Haram on banking administration in Nigeria

Adinoyi

Ouma

Nzau

2023

JACPR

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Purpose Using system theory, this paper aims to interrogate the impact of Boko-Haram on bank administration. The paper explains how death, injury and property destruction caused by terrorism affect banking supervision and structures. Design/methodology/approach With the aid of a mixed research method, this paper conducted 47 interviews. It extracted secondary data from the Central Bank of Nigeria database, the National Deposit Insurance Corporation publications, Enhancing Financial Innovation and Access Survey, the World Bank database and the Global Terrorism Index. Descriptive, content and regression analysis was used in this research. Findings With a significant regression model (p-value < 0.05), the analysis shows that terrorism accounts for 84.02% variation in banking administration. The impact of Boko-Haram on banking administration is negatively significant, especially in the areas like on-site supervision of Money Deposit Banks/Micro-finance Institutions and citizens’ accessibility to financial systems. Originality/value This paper generates new knowledge in the thematic area, which is still grey. The influence of terrorism on financial institutions as an element of economic governance is less researched. Hence, the strategic linkage of the impact of Boko-Haram on banking administration as a component of financial institutions. Therefore, this paper contributes to the existing body of literature on terrorism and economic governance.

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“…Bunun yanı sıra saldırı gerçekleştiği anda ülkedeki endekslerin aşağı yönlü olması durumunda yukarı yönlü hareket eden endekslere göre daha fazla etkilendiği, farklı endüstrilerin ise terör saldırılarından farklı düzeylerde etkilendiği sonucuna ulaşmışlardır. Shaikh (2019) tarafından geçmiş 30 yıllık dönemde farklı bölgelerde gerçekleştirilen terör eylemlerinin Hindistan piyasalarına etkilerinin incelendiği çalışmada ise yatırımcıların gerçekleşen terör eylemlerinin ardından piyasa oynaklığının artması sebebi ile kısa pozisyon aldıkları ve portföylerini şekillendirirken saldırının etkilerini göz önünde bulundurdukları belirtilmiş ve piyasaların saldırıların gerçekleşmesinin ardından birkaç gün boyunca kararsız kalarak olumsuz etkilendikleri sonucuna ulaşılmıştır.…”

Section: Diğer Terör Olaylarının Piyasalar üZerindeki Etkisini Inceleyen çAlışmalarunclassified

The Effect of Political Risk on Stock Markets: A Literature Review

Kaya¹,

Kahraman²,

Poyraz³

2020

GJEB

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There are different types of risks that investors should consider. The risk, defined as the "probability of deviation of the expected return from the actual return" in the finance literature, is divided into two groups, systematic and non-systematic risks. The purpose of this article is to examine the studies on how the political risk, which is one of the systemic risks, affects the financial markets, and to present the findings obtained in these studies to the readers. In this context, choices from political risk factors, Brexit Referendum, terrorist incidents, wars and international politic risk index were examined and studies in the local and foreign literature were examined. While determining the studies included in the article, studies investigating the results of the related events on stock markets were preferred. Thus, it is aimed that readers will be able to make a general assessment of political risk in stock markets. According to the results of the research conducted with the literature review method, it was determined that the political risk significantly affected the stock returns, and this effect varied depending on different factors such as the type of the event examined, the level of importance and the structure of the markets investigating the impact.

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The impact of terrorism on Indian securities market

Cited by 11 publications

References 54 publications

Terrorism and its impact on the stock market: broad results from Tunisia

Terrorism and its impact on the stock market: broad results from Tunisia

Terrorism and economic governance in Africa: analysis of the impact of Boko-Haram on banking administration in Nigeria

The Effect of Political Risk on Stock Markets: A Literature Review

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