create a website

What drives abnormal returns of stock markets in wartime? Evidence from 17 invasions. (2025). Wang, Mei ; Toan, Luu Duc ; Hoffmann, Vincent.
In: European Journal of Political Economy.
RePEc:eee:poleco:v:86:y:2025:i:c:s0176268025000035.

Full description at Econpapers || Download paper

Cited: 0

Citations received by this document

Cites: 39

References cited by this document

Cocites: 56

Documents which have cited the same bibliography

Coauthors: 0

Authors who have wrote about the same topic

Citations

Citations received by this document

    This document has not been cited yet.

References

References cited by this document

  1. Aizenman, J. ; Lindahl, R. ; Stenvall, D. ; Uddin, G.S. Geopolitical shocks and commodity market dynamics: New evidence from the Russia-Ukraine conflict. 2024 Eur. J. Political Econ.. 85 -

  2. Armitage, S. Event study methods and evidence on their performance. 1995 J. Econ. Surv.. 9 25-52

  3. Baele, L. ; Bekaert, G. ; Inghelbrecht, K. ; Wei, M. Flights to safety. 2020 Rev. Financ. Stud.. 33 689-746
    Paper not yet in RePEc: Add citation now
  4. Barbieri, K. ; Levy, J.S. Sleeping with the enemy: The impact of war on trade. 1999 J. Peace Res.. 36 463-479
    Paper not yet in RePEc: Add citation now
  5. Barro, R.J. Rare disasters and asset markets in the twentieth century. 2006 Q. J. Econ.. 121 823-866

  6. Berkman, H. ; Jacobsen, B. ; Lee, J.B. Time-varying rare disaster risk and stock returns. 2011 J. Financ. Econ.. 101 313-332

  7. Boubaker, S. ; Goodell, J.W. ; Pandey, D.K. ; Kumari, V. Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine. 2022 Finance Res. Lett.. 48 -

  8. Boungou, W. ; Yatié, A. The impact of the Ukraine–Russia war on world stock market returns. 2022 Econom. Lett.. 215 -

  9. Brune, A. ; Hens, T. ; Rieger, M.O. ; Wang, M. The war puzzle: Contradictory effects of international conflicts on stock markets. 2015 Int. Rev. Econ.. 62 1-21

  10. Choudhry, T. World War II events and the dow jones industrial index. 2010 J. Bank. Financ.. 34 1022-1031

  11. Collier, P. ; Hoeffler, A. On economic causes of civil war. 1998 Oxf. Econ. Pap.. 50 563-573

  12. Cutler, D.M. ; Poterba, J.M. ; Summers, L.H. What moves the stock market?. 1989 J. Portf. Manag.. 15 4-11
    Paper not yet in RePEc: Add citation now
  13. De Luca, G. ; Magnus, J.R. ; Peracchi, F. Comments on “unobservable selection and coefficient stability: Theory and evidence” and “poorly measured confounders are more useful on the left than on the right”. 2019 J. Bus. Econom. Statist.. 37 217-222
    Paper not yet in RePEc: Add citation now
  14. Elmendorf, D. ; Hirshfeld, M. ; Weil, D.N. The Effect of News on Bond Prices: Evidence from the United Kingdom 1900–1920. 1992 National Bureau of Economic Research Cambridge: Mass., USA

  15. Federle, J. Proximity to war: The stock market response to the Russian invasion of Ukraine. 2022 :
    Paper not yet in RePEc: Add citation now
  16. Frey, B.S. ; Kucher, M. History as reflected in capital markets: the case of World War II. 2000 J. Econ. Hist.. 60 468-496

  17. Gomado, K.M. Impact of uncertainty on economic growth: The role of pro-market institutions in developing countries. 2024 Kyklos. -

  18. Guidolin, M. ; La Ferrara, E. The economic effects of violent conflict: Evidence from asset market reactions. 2010 J. Peace Res.. 47 671-684

  19. Hudson, R. ; Urquhart, A. War and stock markets: The effect of World War Two on the British stock market. 2015 Int. Rev. Financ. Anal.. 40 166-177

  20. Jareño, F. ; Martínez-Serna, M.-I. ; Chicharro, M. Government bonds and COVID-19. An international evaluation under different market states. 2023 Eval. Rev.. 47 433-478

  21. Jawadi, F. ; Rozin, P. ; Gnegne, Y. ; Cheffou, A.I. Geopolitical risks and business fluctuations in Europe: A sectorial analysis. 2024 Eur. J. Political Econ.. 85 -

  22. Kwok, J.K. Does switching trading venues create value? Evidence from Hong Kong. 2020 J. Asian Bus. Econ. Stud.. 27 209-222
    Paper not yet in RePEc: Add citation now
  23. Leigh, A. ; Wolfers, J. ; Zitzewitz, E. What Do Financial Markets Think of War in Iraq?. 2003 National Bureau of Economic Research Cambridge: Mass., USA

  24. MacKinlay, A.C. Event studies in economics and finance. 1997 J. Econ. Lit.. 35 13-39

  25. Moorman, C. ; Lehmann, D.R. Assessing marketing strategy performance. 2004 :
    Paper not yet in RePEc: Add citation now
  26. Niederhoffer, V. The analysis of world events and stock prices. 1971 J. Bus.. 44 193-219

  27. Nordhaus, W.D. The economic consequences of a war in Iraq. 2002 :

  28. Oster, E. Unobservable selection and coefficient stability: Theory and evidence. 2019 J. Bus. Econom. Statist.. 37 187-204

  29. Park, N.K. A guide to using event study methods in multi-country settings. 2004 Strat. Manag. J.. 25 655-668

  30. Pham, T. ; Talavera, O. ; Tsapin, A. Shock contagion, asset quality and lending behaviour: The case of war in Eastern Ukraine. 2021 Kyklos. 74 243-269

  31. Rigobon, R. ; Sack, B. The effects of war risk on US financial markets. 2005 J. Bank. Financ.. 29 1769-1789

  32. Salachas, E. ; Kouretas, G.P. ; Laopodis, N.T. ; Vlamis, P. Stock market spillovers of global risks and hedging opportunities. 2024 Eur. J. Political Econ.. 83 -

  33. Schell, D. ; Wang, M. ; Huynh, T.L.D. This time is indeed different: A study on global market reactions to public health crisis. 2020 J. Behav. Exp. Financ.. 27 -

  34. Schneider, G. ; Troeger, V.E. War and the world economy: Stock market reactions to international conflicts. 2006 J. Confl. Resolut.. 50 623-645
    Paper not yet in RePEc: Add citation now
  35. Schwert, G.W. Why does stock market volatility change over time?. 1989 J. Finance. 44 1115-1153

  36. Tee, K. ; Tessema, A.M. Stock market reactions to dividend and earnings announcements in a tax-free environment. 2019 Int. Financ.. 22 241-259

  37. Veronesi, P. The peso problem hypothesis and stock market returns. 2004 J. Econom. Dynam. Control. 28 707-725

  38. Xie, L. ; Wang, M. ; Huynh, T.L.D. Trust and the stock market reaction to lockdown and reopening announcements: A cross-country evidence. 2022 Finance Res. Lett.. 46 -

  39. Yilmazkuday, H. Geopolitical risk and stock prices. 2024 Eur. J. Political Econ.. 83 -

Cocites

Documents in RePEc which have cited the same bibliography

  1. Volatility spillovers in the Russian stock market: Responses to exogenous shocks. (2025). Balash, V ; Faizliev, A.
    In: Journal of the New Economic Association.
    RePEc:nea:journl:y:2025:i:67:p:65-84.

    Full description at Econpapers || Download paper

  2. Assessment of Socio-Economic Impacts of Hyperloop Technology on European Trade Routes. (2025). Zervina, Olga ; Vesjolijs, Aleksejs ; Stukalina, Yulia.
    In: Economies.
    RePEc:gam:jecomi:v:13:y:2025:i:3:p:65-:d:1603336.

    Full description at Econpapers || Download paper

  3. Green bond market stability and Russia Ukraine conflict: The role of green inclusive finance. (2025). Wang, Anqi ; Cui, Tianxiang ; Ding, Shusheng.
    In: Research in International Business and Finance.
    RePEc:eee:riibaf:v:74:y:2025:i:c:s0275531924005270.

    Full description at Econpapers || Download paper

  4. What drives abnormal returns of stock markets in wartime? Evidence from 17 invasions. (2025). Wang, Mei ; Toan, Luu Duc ; Hoffmann, Vincent.
    In: European Journal of Political Economy.
    RePEc:eee:poleco:v:86:y:2025:i:c:s0176268025000035.

    Full description at Econpapers || Download paper

  5. The impact of geopolitical risk on higher-order moment risk spillovers in global energy markets. (2025). Xu, Xin ; Yu, YI ; Bi, Yanhao ; Xie, Qichang.
    In: Energy Economics.
    RePEc:eee:eneeco:v:144:y:2025:i:c:s014098832500115x.

    Full description at Econpapers || Download paper

  6. US and EU unconventional monetary policy spillover on BRICS financial markets: an event study. (2021). Panda, Pradiptarathi ; Lubys, Justinas.
    In: Empirica.
    RePEc:kap:empiri:v:48:y:2021:i:2:d:10.1007_s10663-020-09480-8.

    Full description at Econpapers || Download paper

  7. The impact of transparent money flows: Effects of stablecoin transfers on the returns and trading volume of Bitcoin. (2021). Ante, Lennart ; Fiedler, Ingo ; Strehle, Elias .
    In: Technological Forecasting and Social Change.
    RePEc:eee:tefoso:v:170:y:2021:i:c:s0040162521002833.

    Full description at Econpapers || Download paper

  8. The influence of stablecoin issuances on cryptocurrency markets. (2021). Ante, Lennart ; Fiedler, Ingo ; Strehle, Elias .
    In: Finance Research Letters.
    RePEc:eee:finlet:v:41:y:2021:i:c:s1544612320316810.

    Full description at Econpapers || Download paper

  9. Abnormal volatility in seasoned equity offerings during economic disruptions. (2021). Bakry, Walid ; Prasad, Mason ; Varua, Maria Estela.
    In: Journal of Behavioral and Experimental Finance.
    RePEc:eee:beexfi:v:30:y:2021:i:c:s2214635021000538.

    Full description at Econpapers || Download paper

  10. Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict. (2020). Wengerek, Sascha Tobias.
    In: Working Papers Dissertations.
    RePEc:pdn:dispap:59.

    Full description at Econpapers || Download paper

  11. To Be Rated or To Be Indexed: Corporate Governance Rating Experience in Borsa Istanbul. (2020). Pirgaip, Burak ; Akyuz, Mehmet Berktay.
    In: Istanbul Business Research.
    RePEc:ist:ibsibr:v:49:y:2020:i:2:p:271-300.

    Full description at Econpapers || Download paper

  12. Institutional investors attention to environmental information, trading strategies, and market impacts: Evidence from China. (2020). Chen, Xiaohong ; Mao, Xiaodan ; Wei, Ping.
    In: Business Strategy and the Environment.
    RePEc:bla:bstrat:v:29:y:2020:i:2:p:566-591.

    Full description at Econpapers || Download paper

  13. The effect of information security certification announcements on the market value of the firm. (2019). Rakes, Terry R ; Rees, Loren P ; Deane, Jason K ; Goldberg, David M.
    In: Information Technology and Management.
    RePEc:spr:infotm:v:20:y:2019:i:3:d:10.1007_s10799-018-00297-3.

    Full description at Econpapers || Download paper

  14. Do Strategy and Timing in IT Security Investments Matter? An Empirical Investigation of the Alignment Effect. (2019). Luo, Xin ; Huang, Wei ; Liu, Shan ; Zhang, Hongyun ; Xu, Feng.
    In: Information Systems Frontiers.
    RePEc:spr:infosf:v:21:y:2019:i:5:d:10.1007_s10796-017-9807-6.

    Full description at Econpapers || Download paper

  15. Reaction of the credit default swap market to the release of periodic financial reports. (2019). Narayan, Paresh ; Mishra, Sagarika ; Nasiri, Maryam Akbari.
    In: International Review of Financial Analysis.
    RePEc:eee:finana:v:65:y:2019:i:c:s1057521918306872.

    Full description at Econpapers || Download paper

  16. An empirical analysis of changes in the relative timeliness of issuer-paid vs. investor-paid ratings. (2019). Milidonis, Andreas ; Guidolin, Massimo ; Berwart, Erik.
    In: Journal of Corporate Finance.
    RePEc:eee:corfin:v:59:y:2019:i:c:p:88-118.

    Full description at Econpapers || Download paper

  17. THE CAC 40 INDEX’S REACTION TO TERRORIST ATTACKS: THE CASE OF CHARLIE HEBDO. (2019). El, Khoury Rim.
    In: Studies in Business and Economics.
    RePEc:blg:journl:v:14:y:2019:i:2:p:55-72.

    Full description at Econpapers || Download paper

  18. Stock price reaction to profit warnings: the role of time-varying betas. (2018). Yin, Shuxing ; Mazouz, Khelifa ; Saadouni, Brahim ; Benamraoui, Abdelhafid.
    In: Review of Quantitative Finance and Accounting.
    RePEc:kap:rqfnac:v:50:y:2018:i:1:d:10.1007_s11156-017-0623-3.

    Full description at Econpapers || Download paper

  19. Equity Rights Issue and Dilutive Effect: Evidence from Italian Listed Companies. (2018). di Martino, Giuseppe ; Busatto, Federico.
    In: International Business Research.
    RePEc:ibn:ibrjnl:v:11:y:2018:i:10:p:94-110.

    Full description at Econpapers || Download paper

  20. Capital market consequences of cultural influences on earnings: The case of cross-listed firms in the U.S. stock market. (2018). Wijayana, Singgih ; Gray, Sidney J.
    In: International Review of Financial Analysis.
    RePEc:eee:finana:v:57:y:2018:i:c:p:134-147.

    Full description at Econpapers || Download paper

  21. The heterogeneous impact of Brexit: Early indications from the FTSE. (2018). Studnicka, Zuzanna ; Davies, Ronald.
    In: European Economic Review.
    RePEc:eee:eecrev:v:110:y:2018:i:c:p:1-17.

    Full description at Econpapers || Download paper

  22. Does Implementation of Big Data Analytics Improve Firms’ Market Value? Investors’ Reaction in Stock Market. (2017). Chai, Sangmi ; Kim, Minkyun ; Lee, Hansol ; Kweon, Eunkyung.
    In: Sustainability.
    RePEc:gam:jsusta:v:9:y:2017:i:6:p:978-:d:101056.

    Full description at Econpapers || Download paper

  23. Institutional trading before dividend reduction announcements. (2017). Henry, Darren ; Pham, Viet Hung ; Nguyen, Lily.
    In: Journal of Financial Markets.
    RePEc:eee:finmar:v:36:y:2017:i:c:p:40-55.

    Full description at Econpapers || Download paper

  24. THE EFFECT OF MAJOR EVENTS ON BANK SHARE PRICE IN ROMANIA. (2016). Sprincean, Nicu ; Capraru, Bogdan ; Ihnatov, Iulian.
    In: Annals of Faculty of Economics.
    RePEc:ora:journl:v:1:y:2016:i:1:p:747-757.

    Full description at Econpapers || Download paper

  25. Evaluation of IPO-firm takeovers: an event study. (2016). Lehmann, Erik ; Schwerdtfeger, Manuel T.
    In: Small Business Economics.
    RePEc:kap:sbusec:v:47:y:2016:i:4:d:10.1007_s11187-016-9740-y.

    Full description at Econpapers || Download paper

  26. Do investors care about corporate taxes?. (2016). Brooks, Chris ; Money, Kevin ; Godfrey, Chris ; Hillenbrand, Carola.
    In: Journal of Corporate Finance.
    RePEc:eee:corfin:v:38:y:2016:i:c:p:218-248.

    Full description at Econpapers || Download paper

  27. Changes of Executives and Ownership in a Romanian Small Bank: an Event Study Approach. (2016). Sprincean, Nicu ; Capraru, Bogdan ; Ihnatov, Iulian.
    In: EuroEconomica.
    RePEc:dug:journl:y:2016:i:1:p:36-46.

    Full description at Econpapers || Download paper

  28. CHOOSING AMONG ALTERNATIVE LONG-RUN EVENT-STUDY TECHNIQUES. (2015). Dionysiou, Dionysia.
    In: Journal of Economic Surveys.
    RePEc:bla:jecsur:v:29:y:2015:i:1:p:158-198.

    Full description at Econpapers || Download paper

  29. The effect on stockholder wealth of product recalls and government action: The case of Toyotas accelerator pedal recall. (2014). Tremblay, Victor J. ; Brooks, Raymond M. ; Gokhale, Jayendra.
    In: The Quarterly Review of Economics and Finance.
    RePEc:eee:quaeco:v:54:y:2014:i:4:p:521-528.

    Full description at Econpapers || Download paper

  30. The evolution of China’s banking system: bank loan announcements 1996–2009. (2014). Li, Zhaohua ; Zhang, Yuan ; Cohen, David A. ; Gan, Christopher.
    In: Accounting and Finance.
    RePEc:bla:acctfi:v:54:y:2014:i:1:p:165-188.

    Full description at Econpapers || Download paper

  31. Understanding the Determinants of Electricity Prices and the Impact of the German Nuclear Moratorium in 2011. (2014). Thoenes, Stefan.
    In: The Energy Journal.
    RePEc:aen:journl:ej35-4-03.

    Full description at Econpapers || Download paper

  32. CDS volatility: the key signal of credit quality. (2013). Castellano, Rosella ; Decclesia, Rita.
    In: Annals of Operations Research.
    RePEc:spr:annopr:v:205:y:2013:i:1:p:89-107:10.1007/s10479-012-1244-9.

    Full description at Econpapers || Download paper

  33. An Empirical Analysis of Changes in the Relative Timeliness of Issuer-Paid vs. Investor-Paid Ratings. (2013). Milidonis, Andreas ; Guidolin, Massimo ; Berwart, Erik.
    In: Working Papers.
    RePEc:igi:igierp:482.

    Full description at Econpapers || Download paper

  34. The stock market evaluation of IPO-firm takeovers. (2011). Lehmann, Erik ; Braun, Thorsten V. ; Schwerdtfeger, Manuel T..
    In: UO Working Papers.
    RePEc:zbw:auguow:0111.

    Full description at Econpapers || Download paper

  35. Sovereign Credit Rating Announcements and Baltic Stock Markets. (2011). Klimaviaiena, Asta .
    In: Organizations and Markets in Emerging Economies.
    RePEc:vul:omefvu:v:2:y:2011:i:1:id:112.

    Full description at Econpapers || Download paper

  36. Do Investors Care if Steve Jobs is Healthy?. (2011). Koch, James ; Cebula, Richard.
    In: Atlantic Economic Journal.
    RePEc:kap:atlecj:v:39:y:2011:i:1:p:59-70.

    Full description at Econpapers || Download paper

  37. Regulation and the financial performance of Canadian agribusinesses. (2011). Schaufele, Brandon ; Sparling, David.
    In: Agricultural Finance Review.
    RePEc:eme:afrpps:v:71:y:2011:i:2:p:201-217.

    Full description at Econpapers || Download paper

  38. The Triple Bottom Line: What is the Impact on the Returns to Agribusiness?. (2011). Gunderson, Michael ; Detre, Joshua.
    In: International Food and Agribusiness Management Review.
    RePEc:ags:ifaamr:117608.

    Full description at Econpapers || Download paper

  39. When the rivers run dry : liquidity and the use of wholesale funds in the transmission of the U.S. subprime crisis. (2010). Raddatz, Claudio.
    In: Policy Research Working Paper Series.
    RePEc:wbk:wbrwps:5203.

    Full description at Econpapers || Download paper

  40. Split share structure reform effect model and empirical analysis. (2009). Zhao, Yuliang ; Ren, Guangqian.
    In: Frontiers of Economics in China.
    RePEc:spr:frecch:v:4:y:2009:i:3:p:461-477.

    Full description at Econpapers || Download paper

  41. An analysis of short‐run performance of cross‐border mergers and acquisitions. (2009). Uddin, Moshfique ; Boateng, Agyenim.
    In: Review of Accounting and Finance.
    RePEc:eme:rafpps:v:8:y:2009:i:4:p:431-453.

    Full description at Econpapers || Download paper

  42. Is the Convergence of Accounting Standards Good for Stock Markets?. (2009). CHONG, Terence Tai Leung ; Winnie S. C. Leung, ; Rita W. Y. Yip, ; Huang, Howard Z..
    In: Economics Bulletin.
    RePEc:ebl:ecbull:eb-08m40002.

    Full description at Econpapers || Download paper

  43. Kursgewinne durch Entlassungspläne? Erste Ergebnisse aus Deutschland. (2009). Neus, Werner ; Walter, Andreas.
    In: Perspektiven der Wirtschaftspolitik.
    RePEc:bla:perwir:v:10:y:2009:i:1:p:1-20.

    Full description at Econpapers || Download paper

  44. Change in value relevance of quarterly foreign sales data of U.S. multinational corporations after adopting SFAS 131. (2008). Hossain, Mahmud.
    In: Review of Quantitative Finance and Accounting.
    RePEc:kap:rqfnac:v:30:y:2008:i:1:p:1-23.

    Full description at Econpapers || Download paper

  45. Disclosure of mergers without regulatory restrictions: Insider trading in pre-1914 Germany. (2008). .
    In: Economics Bulletin.
    RePEc:ebl:ecbull:v:7:y:2008:i:2:p:1-7.

    Full description at Econpapers || Download paper

  46. Disclosure of mergers without regulatory restrictions: Insider trading in pre-1914 Germany. (2008). Kling, Gerhard.
    In: Economics Bulletin.
    RePEc:ebl:ecbull:eb-07g10015.

    Full description at Econpapers || Download paper

  47. A horizontal merger in the iron ore industry: An event study approach. (2007). Warell, Linda.
    In: Resources Policy.
    RePEc:eee:jrpoli:v:32:y:2007:i:4:p:191-204.

    Full description at Econpapers || Download paper

  48. The long-term impact of mergers and the emergence of a merger wave in pre-World-War I Germany. (2006). Kling, Gerhard.
    In: Explorations in Economic History.
    RePEc:eee:exehis:v:43:y:2006:i:4:p:667-688.

    Full description at Econpapers || Download paper

  49. The Seasoned‐Equity Issues of UK Firms: Market Reaction and Issuance Method Choice. (2006). Walker, Martin ; Barnes, Edel.
    In: Journal of Business Finance & Accounting.
    RePEc:bla:jbfnac:v:33:y:2006:i:1-2:p:45-78.

    Full description at Econpapers || Download paper

  50. Lefficacité du Contrôle Communautaire des Concentrations. Une approche par la méthode événementielle. (2004). Dumont, Beatrice.
    In: Recherches économiques de Louvain.
    RePEc:cai:reldbu:rel_703_0317.

    Full description at Econpapers || Download paper

  51. Kurswertreaktionen auf die Ankündigung von Going Private : Transaktionen am deutschen Kapitalmarkt. (2003). Eisele, Florian ; Walter, Andreas.
    In: Tübinger Diskussionsbeiträge.
    RePEc:zbw:tuedps:274.

    Full description at Econpapers || Download paper

  52. B2B emarketplace announcements and shareholder wealth. (2001). Siems, Thomas ; Chen, Andrew.
    In: Economic and Financial Policy Review.
    RePEc:fip:fedder:y:2001:i:qi:p:12-22.

    Full description at Econpapers || Download paper

  53. BEYOND PROFITABILITY: EFFECTS OF ACQUISITIONS ON TECHNICAL EFFICIENCY AND PRODUCTIVITY IN THE ITALIAN PASTA INDUSTRY. (1999). Benfratello, Luigi.
    In: CERIS Working Paper.
    RePEc:csc:cerisp:199914.

    Full description at Econpapers || Download paper

  54. Choice dividends and contemporaneous earnings announcements on a small stock market: an empirical study. (1999). Manigart, Sophie ; de Waele, Koen.
    In: Brussels Economic Review.
    RePEc:bxr:bxrceb:2013/13079.

    Full description at Econpapers || Download paper

  55. Guilty by Association? The Case of The Karin B Scare. (1998). .
    In: European Journal of Law and Economics.
    RePEc:kap:ejlwec:v:5:y:1998:i:1:p:5-12.

    Full description at Econpapers || Download paper

  56. Too much cocited documents. This list is not complete

Coauthors

Authors registered in RePEc who have wrote about the same topic

Report date: 2025-09-30 16:37:52 || Missing content? Let us know

CitEc is a RePEc service, providing citation data for Economics since 2001. Last updated August, 3 2024. Contact: Jose Manuel Barrueco.