Wisniewski, Tomasz Piotr, Lambe, Brendan John and Dias, Alexandra orcid.org/0000-0003-0210-552X (2020) The Influence of General Strikes against Government on Stock Market Behavior. Scottish Journal of Political Economy. pp. 72-99. ISSN 0036-9292
Abstract
Using a sample of 76 countries, this paper examines the impact of major strikes against government and its policies on stock market behavior. An occurrence of a general strike is detrimental to the value of equities, as documented by the ceteris paribus 6.11% fall in dollar-denominated stock market indices of the affected countries. This event is also accompanied by a statistically significant increase in risk, as measured by the standard deviation of returns and Value-at-Risk metrics. Taken together, these results imply that general strikes have serious ramifications for stock market investors.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 Scottish Economic Society. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details. |
Keywords: | General strikes,stock prices,political effects |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > The York Management School |
Depositing User: | Pure (York) |
Date Deposited: | 16 Apr 2019 08:40 |
Last Modified: | 10 Nov 2024 01:22 |
Published Version: | https://doi.org/10.1111/sjpe.12224 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1111/sjpe.12224 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:145040 |
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