Failed terror attack and stock market returns: the case of Pakistan stock exchange

This study investigates the effect of a failed terror attack on stock market returns using an event study approach. The mean-adjusted returns and the market model are used to analyse the event. The results show that the failed attack on the Pakistan Stock Exchange building in Karachi generated posit...

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Bibliographic Details
Published inApplied economics letters Vol. 28; no. 19; pp. 1698 - 1702
Main Authors Bash, Ahmad, Alsaifi, Khaled, Al-Awadhi, Abdullah M.
Format Journal Article
LanguageEnglish
Published London Routledge 11.11.2021
Taylor & Francis LLC
Subjects
Economic analysis
Economic theory
Economics
event study
Pakistan
Positive life events
Securities markets
Stock exchanges
stock market returns
Terror attack
Pakistan
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Summary:This study investigates the effect of a failed terror attack on stock market returns using an event study approach. The mean-adjusted returns and the market model are used to analyse the event. The results show that the failed attack on the Pakistan Stock Exchange building in Karachi generated positive cumulative returns for all the listed stocks, suggesting that such events have positive effects on stock market returns.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2020.1851645