Political risk, investor attention and the Scottish Independence referendum

Daniella Acker and Nigel W. Duck

Finance Research Letters, 2015, vol. 13, issue C, 163-171

Abstract: Using data relating to the Scottish Independence referendum and a purely market-driven method for estimating the sensitivity of stocks to its result we provide evidence that the political risk associated with the referendum was priced and that investors appeared to pay attention primarily to the most visible information about the likely referendum result.

Keywords: Pricing of risk; Investor inattention; Scottish referendum (search for similar items in EconPapers)
JEL-codes: G1 G11 G12 G14 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:13:y:2015:i:c:p:163-171

DOI: 10.1016/j.frl.2015.01.008

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