EconPapers    
Economics at your fingertips  
 

Effects of Economic and Political Events on Stock Returns: Event Study of the Agrokor Case in Croatia

Tihana Škrinjarić () and Zrinka Orlovic ()
Additional contact information
Zrinka Orlovic: Faculty of Economics and Business, University of Zagreb, Croatia

Croatian Economic Survey, 2019, vol. 21, issue 1, 47-86

Abstract: Major events in Croatia regarding economy and politics in the last three years have been related to the Agrokor concern. Agrokor is one of the biggest companies/concerns in Croatia and Southeastern Europe. Since some of Agrokor’s stocks are listed on the Croatian stock market, the economic and political events regarding Agrokor have affected the stock market as well to an extent. In this study we observe the effects of several economic and political events on stock returns on the Zagreb Stock Exchange, by dividing the sample into two groups. The first group consists of Agrokor’s stocks and the other group consists of stocks of other companies which are listed and frequently traded on the market. The methodology used in the study was event study, by using parametric and non-parametric tests. The results indicate that specific economic and political events have affected Agrokor’s stock returns negatively. Other stock returns were not affected, or were affected positively, but not statistically significantly.

Keywords: Agrokor case; Zagreb Stock Exchange; economic and political events; abnormal return; non-parametric tests (search for similar items in EconPapers)
JEL-codes: G14 C58 C12 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://hrcak.srce.hr/file/323363 (application/pdf)

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:iez:survey:ces-v21_1-2019_skrinjaric-orlovic

Access Statistics for this article

More articles in Croatian Economic Survey from The Institute of Economics, Zagreb Contact information at EDIRC.
Bibliographic data for series maintained by Doris Banicevic ().

 
Page updated 2020-10-10
Handle: RePEc:iez:survey:ces-v21_1-2019_skrinjaric-orlovic