“The People Demand Social Justice”A Case Study on the Impact of Protests on Financial Markets

Chernin Yulia () and Lahav Yaron ()
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Chernin Yulia: Department of Business Administration, Ben-Gurion University of the Negev, Beer-Sheva 84105, Israel
Lahav Yaron: Department of Business Administration, Guilford Glazer Faculty of Business and Management, Ben-Gurion University of the Negev, Beer-Sheva 84105, Israel

Accounting, Economics, and Law: A Convivium, 2014, vol. 4, issue 2, 99-121

Abstract: In Israel, the summer of 2011 will be remembered as the summer of social protestation. Steadily increasing food prices that showed no sign of abating motivated people across the nation to voice their discontent in massive weekly protests attended by thousands. As the movement gathered momentum and the impacts of the protests increased, it caught the attention of policy makers, food manufacturers, and food channel retailers. In this article, we show how certain important events during this summer negatively affected the price of food retailers’ stocks. We also show that a proper response to the events by retailers targeted by the protestors prevented their stock from falling. We show that a proper response of one retailer converted the goal of protestors and increased its market value.

Keywords: event study; protests; retailers; social response; stock markets (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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DOI: 10.1515/ael-2013-0061

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