A note on stock market response to elections in the post-communist countries of the European Union

被引：0

作者：

Tavsanli, Melike Betul ^{[1
]}

Tinic, Murat ^{[1
]}

机构：

[1] Kadir Has Univ, Dept Int Trade & Finance, TR-34083 Cibali, Fatih Istanbul, Turkey

来源：

APPLIED ECONOMICS LETTERS | 2023年 / 30卷 / 11期

关键词：

Policy uncertainty; elections; stock market response; event study; European Union; POLITICAL UNCERTAINTY; 2-PARTY SYSTEM; POLICY; ECONOMY; RISK;

D O I：

10.1080/13504851.2022.2063788

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the stock market response to parliamentary elections in post-communist countries of the European Union. We document that the long-term market response to an election is -200 basis points (bps). The response is symmetric across the ideology of the winner party. Moreover, we show that aggregate responses are driven by elections with policy uncertainty due to the transition of power across ideologies. The long-term market response to right (left) victories after left (right) governments is -500 bps (-600bps).

引用

页码：1483 / 1487

页数：5

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