EconPapers    
Economics at your fingertips  
 

Financial sanctions and global stock market reaction: Evidence from the Russia-Ukraine conflict

Chwee-Ming Tee, Wai-Yan Wong and Chee-Wooi Hooy

Finance Research Letters, 2023, vol. 58, issue PB

Abstract: Drawing from recent studies on the effect of Russia-Ukraine war on stock markets, this study examines global stock markets’ reactions to sanctions at the beginning of the war. Using the event study methodology, this study finds that investors place higher valuation for firms located in countries that sanction Russia, in comparison with stock markets located in countries which did not sanction Russia. In addition, the higher valuation is stronger, if firms are politically connected or located in countries with lower geopolitical risks.

Keywords: Russia; Ukraine; Event study; Stock market; Market return; War; Sanction (search for similar items in EconPapers)
JEL-codes: E66 G14 G40 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612323007705
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323007705

DOI: 10.1016/j.frl.2023.104398

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).

 
Page updated 2024-12-28
Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323007705