RT Article
T1 The effect of terrorism on stock markets: evidence from the 21st century
JF Terrorism and political violence
VO 32
IS 5
SP 988
OP 1010
A1 Markoulis, Stelios
A1 Katsikides, Sabbas A.
A2 Katsikides, Sabbas A.
LA English
YR 2020
UL https://krimdok.uni-tuebingen.de/Record/1831813777
AB This paper examines the relationship between terrorist attacks and stock market performance, by employing the “event-study” methodology to examine eleven major terrorist attacks that occurred in the 21st century. Results suggest that earlier events appear to result in higher negative abnormal returns when compared to more recent ones. Where evident, these abnormal returns seem to persist beyond the date of the event, but tend to disappear rather quickly. Some events appear to exhibit a “spill-over” effect influencing international stock markets too. Our most important finding is that recent events do not seem to influence local or international markets, thus suggesting that investors have learnt to better assess terror events and react more calmly to them.
NO Gesehen am 23.01.2023
NO Published online: 14 Mar 2018
K1 Event-study methodology
K1 market reaction
K1 stock market performance
K1 Terrorism
DO 10.1080/09546553.2018.1425207