The impact of business and political news on the GCC stock markets

Alanoud Al-Maadid, Guglielmo Caporale, Fabio Spagnolo, Nicola Spagnolo

    Research output: Contribution to journalArticle

    Abstract

    This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.
    Original languageEnglish
    Pages (from-to)1-17
    JournalResearch in International Business and Finance
    Volume52
    DOIs
    Publication statusPublished - 2020

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