Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach

Dumitru-Cristian Oanea () and Stela Jakova ()
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Dumitru-Cristian Oanea: Bucharest University of Economic Studies
Stela Jakova: Bucharest University of Economic Studies

Acta Universitatis Danubius. OEconomica, 2016, issue 12(2), 217-227

Abstract: The aim of this paper is to study the impact of Swiss National Bank (SNB) decision to unpeg the franc from euro, which was taken on 15th January, 2015, on main financial markets around the word. Our results shows that the stocks market reacted significantly in the event day (except stock market from Asia & Australia), when was recorded a significant decrease of 0.33% in the average return. Moreover, it seems that after 4 days there was recorded the highest significant decrease of global market return of 1.3%.

Keywords: event study; exchange rates; stock markets; Swiss franc. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2016:i:2:p:217-227

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