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The Impact of the Sri Lankan Civil War on the Stock Market Performances

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  • Shashitha Gimhani Jayakody

    (Faculty of Business, Sri Lanka Institute of Information Technology, Sri Lanka)

Abstract

This study examines the effects of terrorist attacks on the Sri Lankan stock market during the last phase of the civil war. The mean adjusted returns model is employed to test whether the 19 industries in the Colombo Stock Exchange exhibit varied reactions for 9 selected terrorist attacks. Using daily data over the period from July 2006 to May 2009, the event study revealed that terrorist attacks have a statistically different impact across industries.

Suggested Citation

  • Shashitha Gimhani Jayakody, 2017. "The Impact of the Sri Lankan Civil War on the Stock Market Performances," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 394-402.
    • Handle: RePEc:eco:journ1:2017-01-51
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Event Study; Efficient Markets; Terrorist Attacks;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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