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Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach

Author

Listed:
  • Dumitru-Cristian Oanea

    (Bucharest University of Economic Studies)

  • Stela Jakova

    (Bucharest University of Economic Studies)

Abstract

The aim of this paper is to study the impact of Swiss National Bank (SNB) decision to unpeg the franc from euro, which was taken on 15th January, 2015, on main financial markets around the word. Our results shows that the stocks market reacted significantly in the event day (except stock market from Asia & Australia), when was recorded a significant decrease of 0.33% in the average return. Moreover, it seems that after 4 days there was recorded the highest significant decrease of global market return of 1.3%.

Suggested Citation

  • Dumitru-Cristian Oanea & Stela Jakova, 2016. "Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach," EuroEconomica, Danubius University of Galati, issue 2(12), pages 217-227, April.
    • Handle: RePEc:dug:journl:y:2016:i:2:p:217-227
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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