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Border Disputes and Heterogeneous Sectoral Returns: An Event Study Approach

Author

Listed:
  • M.Kabir Hassan

    (University of New Orleans)

  • S. Boubaker

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie, VNU - Vietnam National University [Hanoï], Swansea University)

  • Vineeta Kumari

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie)

  • D.K. Pandey

    (Magadh University - Gaya University - Magadh Yūnīvarsiṭī)

Abstract

We show heterogeneous impacts of two sorts of events using a sample of six events arising from the Indian border disputes in 2020. The NIFTY's sectoral indices reacted heterogeneously to both events. While a few sectors evidenced positive and negative abnormal returns, others were unaffected by the events. The cross-section of the abnormal returns reveals that higher risk and volatility lead to higher returns during the post-event window. © 2022

Suggested Citation

  • M.Kabir Hassan & S. Boubaker & Vineeta Kumari & D.K. Pandey, 2022. "Border Disputes and Heterogeneous Sectoral Returns: An Event Study Approach," Post-Print hal-04454685, HAL.
    • Handle: RePEc:hal:journl:hal-04454685
    DOI: 10.1016/j.frl.2022.103277
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    Cited by:

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    2. Pandey, Dharen Kumar & Lucey, Brian M. & Kumar, Satish, 2023. "Border disputes, conflicts, war, and financial markets research: A systematic review," Research in International Business and Finance, Elsevier, vol. 65(C).
    3. Khan, Muhammad Asif & Segovia, Juan E.Trinidad & Bhatti, M.Ishaq & Kabir, Asif, 2023. "Corporate vulnerability in the US and China during COVID-19: A machine learning approach," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    4. Kumari, Vineeta & Kumar, Gaurav & Pandey, Dharen Kumar, 2023. "Are the European Union stock markets vulnerable to the Russia–Ukraine war?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).

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