The Response of MENA Country Stock Markets to the Conflict in the Red Sea: Evidence from an Event Study Approach

被引：0

作者：

Necati, Altemur ^{[1
]}

Berna, Dogan Bazar ^{[2
]}

Halil, Ekzi Ibrahim ^{[3
]}

机构：

[1] Giresun Univ, Sebinkarahisar Vocat Sch, Giresun, Giresun, Turkiye

[2] Afyon Kocatepe Univ, Bolvadin Fac Appl Sci Banking & Insurance, Afyonkarahisar, Turkiye

[3] Gaziantep Univ, Fac Econom & Adm Sci, Business Adm Dept, Gaziantep, Turkiye

来源：

INDONESIAN CAPITAL MARKET REVIEW | 2024年 / 16卷 / 02期

关键词：

Red Sea; MENA Countries; Stock Markets; Event Study; CAPITAL-MARKETS; WAR; BEHAVIOR; HISTORY;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The impact of Houthi attacks on commercial vessels in the southern Red Sea and the Gulf of Aden on the stock markets of10 MENA countries is analyzed using an event study. The event day is 10.01.2024, when the Houthis announced targeting the US navy. Significant results are found regarding stock market efficiency and portfolio investors. The t-test shows that CAR (Cumulative Abnormal Return) values are statistically significant for some MENA countries. Positive abnormal returns are found in Morocco, Bahrain, and Egypt, while negative abnormal returns are found in Lebanon and Tunisia within the event window. In other countries analyzed, no significant effect of the event on stock returns is observed.

引用

页数：13

共 40 条

[1] Russia-Ukraine crisis: The effects on the European stock market
Ahmed, Shaker
Hasan, Mostafa M.
Kamal, Md Rajib
[J]. EUROPEAN FINANCIAL MANAGEMENT, 2023, 29 (04) : 1078 - 1118
[2] Alpers EdwardA., 2014, The Indian Ocean in World History
[3] Bialkowski J., 2017, Journal of European Economic History, V46, P9
[4] Binder J., 1998, Review of Quantitative Finance and Accounting, V11, P111, DOI DOI 10.1023/A:1008295500105
[5] Brune A., 2015, International Review of Economics, V62, P1, DOI DOI 10.1007/S12232-014-0215-7
[6] Campbell J. Y., 1997, The Econometrics of Financial Markets
[7] The Employment Effects of Credit Market Disruptions: Firm-level Evidence from the 2008-9 Financial Crisis
Chodorow-Reich, Gabriel
[J]. QUARTERLY JOURNAL OF ECONOMICS, 2014, 129 (01) : 1 - 59
[8] World War II events and the Dow Jones industrial index
Choudhry, Taufiq
[J]. JOURNAL OF BANKING & FINANCE, 2010, 34 (05) : 1022 - 1031
[9] Trading frequency and event study test specification
Cowan, AR
Sergeant, AMA
[J]. JOURNAL OF BANKING & FINANCE, 1996, 20 (10) : 1731 - 1757
[10] Delikanli I. U., 2020, Bankacilar Journal, P126

← 1 2 3 4 →