The impact of business and political news on the GCC stock markets
Date
2020
Authors
Al-Maadid, Alanoud
Caporale, Guglielmo
Spagnolo, Fabio
Spagnolo, Nicola
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Publisher
JAI Press
Abstract
This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.
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Keywords
Business news, GCC countries, Markov switching Model, Political news
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Source
Research in International Business and Finance
Type
Journal article
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Access Statement
Open Access
License Rights
creativecommons.org/licenses/by-nc/4.0/
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