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The Impact of January Events on Stock Performance in the Egyptian Stock Market

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  • Mai Ahmed Abdelzaher

Abstract

The aim of this paper is to evaluate the impact of the January25 revolution on stock performance in the Egyptian market during 2010–2012 by analyzing its effects on trading volume, market return fluctuation, and closing price. These variables are analyzed pre- and post-January25 revolution using the descriptive statistics group unit root test, cointegrating equation model, GARCH model, and ARCH model. The results indicate that there is a significant positive relation between the January events and return fluctuation and no significant effect between the January events and trading volume; however, the trading volume decreased before, during, and after these events, and there is a significant negative relation between the January events and closing price.

Suggested Citation

  • Mai Ahmed Abdelzaher, 2019. "The Impact of January Events on Stock Performance in the Egyptian Stock Market," Accounting and Finance Research, Sciedu Press, vol. 8(1), pages 174-174, February.
    • Handle: RePEc:jfr:afr111:v:8:y:2019:i:1:p:174
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    References listed on IDEAS

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    1. M. F. Omran, 2015. "Risk assessment of the Egyptian stock market in the wake of the Arab Spring," Journal of Economic and Administrative Sciences, Emerald Group Publishing Limited, vol. 31(2), pages 66-70, November.
    2. M. F. Omran & E. McKenzie, 2000. "Heteroscedasticity in stock returns data revisited: volume versus GARCH effects," Applied Financial Economics, Taylor & Francis Journals, vol. 10(5), pages 553-560.
    3. Abdelbaki, Hisham, 2013. "The Impact of Arab Spring on Stock Market Performance," MPRA Paper 54814, University Library of Munich, Germany.
    4. Abdelbaki, Professor Hisham, 2013. "The Arab spring: do we need a new theory?," MPRA Paper 54801, University Library of Munich, Germany, revised 2013.
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    Cited by:

    1. Kobana Abukari & Tov Assogbavi, 2019. "Price-Volume Granger Causality Tests in the Egyptian Stock Exchange (EGX)," Accounting and Finance Research, Sciedu Press, vol. 8(3), pages 1-48, August.

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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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