Return volatility around national elections: Evidence from India

被引：9

作者：

Savita ^{[1
]}

Ramesh, A. ^{[1
]}

机构：

[1] Indian Inst Technol Roorkee, Dept Management Studies, Roorkee 247667, Uttarakhand, India

来源：

OPERATIONS MANAGEMENT IN DIGITAL ECONOMY | 2015年 / 189卷

关键词：

Cumulative abnormal returns; Shareholders; Event study; National Elections; US PRESIDENTIAL ELECTIONS; STOCK-MARKET VOLATILITY; POLITICAL RISK; POLICY; UNCERTAINTY; DIVERSIFICATION; PRICES; CYCLES; PUZZLE;

D O I：

10.1016/j.sbspro.2015.03.210

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This paper analyses the share price performance around National elections in India during the 2014 general elections. Due to change in the market sentiment, the stock prices react to the changes in the government. We investigate shareholders' returns around national elections for 30 companies of BSE SENSEX. Stock prices have been observed over different event windows like (-15, +15), (-2, +2), (-15, -2), (+2, +15) days around the event date. Event study methodology has been used to analyze the results. High positive CAAR (cumulative average abnormal returns) has been observed over different event windows, which reflect market has positively reacted to the possibility of a change in government and after election of a new government. (C) 2015 The Authors. Published by Elsevier Ltd.

引用

页码：163 / 168

页数：6

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