| 个人简介 | |
|---|---|
 Dr. Hashmat Ali Abbottaabad University of Science and Technology, Pakistan |
|
| 标题： Terrorist activities, investor sentiment, and stock returns: Evidence from Pakistan | |
| 摘要：
Overview
Motivated by the previous literature on investor sentiment and assuming that terrorist activities affect investor mood, this study attempts to address the psychological impact of terrorism for investors in Pakistan stock market.
Methods
The selected sample period for this research dates from January 2002 to December 2016 (15 years). We consider four main terrorist attacks in Pakistan and their influence on investors’ sentiment. Trade volume are applied, particularly abnormal trading volume, as measures of investors’ sentiment in the aftermaths of a given terrorist incident.
Results
Apart from a direct economic loss, major terrorist incidents create/exacerbate uncertainty and fear in the market. The investors are likely to over-respond to such incidents and once the dust settles the market tend to recover.
Conclusion
The analysis of cumulative abnormal returns in the aftermaths of terrorist incidents and the volume analysis provide strong evidence that the terrorist incidents adversely affect investors’ sentiments and confidence in the market as manifested through relatively feeble trading volumes.
| |
| 简介：
This is Dr. Hashmat Ali. I completed my PhD in Management Sciences from DUFE in Dalian, China. Currently, I am an Assistant Professor in the Department of Management Sciences at Abbottaabad University of Science and Technology. I have published over 100 papers with high impact factors and have also attended more than 15 international conferences around the world.
| |
