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

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

doi:10.1016/j.ribaf.2019.101102

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 journal › Article

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 language	English
Pages (from-to)	1-17
Journal	Research in International Business and Finance
Volume	52
DOIs	https://doi.org/10.1016/j.ribaf.2019.101102
Publication status	Published - 2020

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10.1016/j.ribaf.2019.101102

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title = "The impact of business and political news on the GCC stock markets",

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.",

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AB - 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.

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DO - 10.1016/j.ribaf.2019.101102

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JO - Research in International Business and Finance

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

Abstract

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