Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155566
Authors: 
Bonekamp, Bas
van Veen, Tom
Year of Publication: 
2017
Series/Report no.: 
CESifo Working Paper 6324
Abstract: 
This paper investigates the magnitude and the duration of the effect of a terrorist attack on stock market indices. We investigate the impact of New York (2001), Madrid (2004), London (2005), Boston (2013), Paris (2015), Brussels (2016), Nice (2016) and Berlin(2016) on the stock indices of the USA (S&P), Japan (NIKKEI), Germany (DAX), Spain (IBEX), UK (FTSE), France (CAC) and the Euronext Index (BEL). We use both a graphical analysis and an event study methodology to assess the effect of terrorist attacks on stock market indices. We conclude that both the magnitude and the duration of the effect are moderate and have diminished over the years.
Subjects: 
terrorist attacks
event studies
stock market indices
JEL: 
G10
G14
G15
Document Type: 
Working Paper

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