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Impact Of Hartal On Stock Return And Turnover: Evidence From Bangladesh

Author

Listed:
  • BOKHTIAR HASAN
  • A. F. M. MAINUL AHSAN
  • AFZALUR RAHAMAN

Abstract

Hartal or strike has become a constitutionally recognized weapon for realizing any political demand in Bangladesh. In spite of sensing very well about the mammoth economic cost attributable to hartal, politicians in Bangladesh are calling hartal repeatedly. This study mainly considers daily DSE General Index (DGEN) return and turnover (TK) for the sample period of June 1, 2010 to May 16, 2013 to examine the impact hartal on the stock market performance in terms of market return and turnover. Using dummy variable combined with linear regression analysis, we found evidence that hartal has little or no impact on the stock market performance.

Suggested Citation

  • Bokhtiar Hasan & A. F. M. Mainul Ahsan & Afzalur Rahaman, 2013. "Impact Of Hartal On Stock Return And Turnover: Evidence From Bangladesh," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 5(2 (Septem), pages 279-289.
    • Handle: RePEc:shc:jaresh:v:5:y:2013:i:2:p:279-289
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    Citations

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    Cited by:

    1. Alshammari, Ahmad Alrazni & Alhabshi, Syed Musa & Saiti, Buerhan, 2019. "The impact of oil prices and the financial market on cost efficiency in the insurance and Takaful sectors: Evidence from a stochastic frontier analysis," Economic Systems, Elsevier, vol. 43(3).
    2. Keshav Singhania & Girish, G. P., 2015. "Impact of macroeconomic events on shanghai stock exchange," Asian Journal of Empirical Research, Asian Economic and Social Society, vol. 5(6), pages 64-76, June.
    3. Killins, Robert N., 2020. "Firm-specific, industry-specific and macroeconomic factors of life insurers’ profitability: Evidence from Canada," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    4. Ang, Tze Chuan 'Chewie' & Azad, A.S.M. Sohel & Pham, Thu A.T. & Zhong, Angel, 2021. "Firm efficiency and stock returns: Australian evidence," International Review of Financial Analysis, Elsevier, vol. 78(C).
    5. Tai-Hsin Huang & Yi-Chun Lin & Kuo-Jui Huang & Yu-Wei Liao, 2022. "Comparing Cost Efficiency Between Financial and Non-financial Holding Banks and Insurers in Taiwan Under the Framework of Copula Methods and Metafrontier," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(4), pages 735-766, December.

    More about this item

    Keywords

    Hartal; Strike; Market Return; Turnover; DSE General Index (DGEN).;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General

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