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The Implications of International Political Disputes on Business Interests: An Event Study

Author

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  • Kyriakos Drivas

    (Department of Agricultural and Resource Economics, University of California-Berkeley, Berkeley, USA)

Abstract

This paper examines, via an event study approach, the effect of Greece’s veto against FYROM’s bid for NATO accession on the stocks of Greek firms conducting business in FYROM. The results show a negative effect on the stocks of these Greek firms while the veto “news” was taken into account at an earlier date rather than the actual veto announcement. This date is identified as the date when negotiations over a bilateral resolution appeared to collapse.

Suggested Citation

  • Kyriakos Drivas, 2010. "The Implications of International Political Disputes on Business Interests: An Event Study," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 13(1), pages 36-55, Summer.
  • Handle: RePEc:ekn:ekonom:v:13:y:2010:i:1:p:36-55
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    More about this item

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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