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THE IMPACT OF TERRORISM ON FINANCIAL MARKETS: EVIDENCE FROM ASIA

Title
THE IMPACT OF TERRORISM ON FINANCIAL MARKETS: EVIDENCE FROM ASIA
Author
강형구
Keywords
Asian equity markets; terrorism; geopolitical risk; event study; stock market
Issue Date
2018-12
Publisher
WORLD SCIENTIFIC PUBL CO PTE LTD
Citation
SINGAPORE ECONOMIC REVIEW, v. 63, no. 5, page. 1183-1204
Abstract
This paper examines the impact of 410 terrorist attacks on the performance of five Asian stock markets. The empirical findings indicate that terrorism has a significant impact on the stock markets. Furthermore, the magnitude of these effects varies with respect to country, attack type, target type and severity of the attacks. In target type, terrorist attacks on business sector and security forces are particularly destructive for the stock markets. Likewise, in attack type, suicide attacks and bomb blasts particularly generate a significant downward movement in the stock markets. Furthermore, the more severe attacks have larger negative impact on market returns.
URI
https://www.worldscientific.com/doi/abs/10.1142/S0217590815501118https://repository.hanyang.ac.kr/handle/20.500.11754/121148
ISSN
0217-5908; 1793-6837
DOI
10.1142/S0217590815501118
Appears in Collections:
GRADUATE SCHOOL OF BUSINESS[S](경영전문대학원) > ETC
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