Arbeitspapier

The stock market effects of Islamist versus non-Islamist terror

We are the first to analyze the effect of terror on stock markets by terror ideology. Surprisingly, we find that Islamist terror attacks created significant negative abnormal returns in American and European markets, but the stock market effects of other terror attacks were almost nil. For our sample of all 124 terrorist attacks in the US and Europe in the period 1994 to 2018 that caused at least five fatalities or ten injured people, we show that Islamist terror attacks are given significantly more air time (also after controlling for attack characteristics and the media pressure of competing news stories). This, however, explains only part of the differential effect of Islamist attacks on the stock markets.

Sprache
Englisch

Erschienen in
Series: Discussion Paper Series ; No. 45

Klassifikation
Wirtschaft
Conflict; Conflict Resolution; Alliances; Revolutions
National Security; Economic Nationalism
General Financial Markets: General (includes Measurement and Data)
Behavioral Finance: General‡
National Security and War
Thema
Terror
stock market
event studies
Islamist terror
media

Ereignis
Geistige Schöpfung
(wer)
Jin, Gan
Karima, Md Rafiul
Schulze, Günther G.
Ereignis
Veröffentlichung
(wer)
University of Freiburg, Department of International Economic Policy (iep)
(wo)
Freiburg i. Br.
(wann)
2024

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Jin, Gan
  • Karima, Md Rafiul
  • Schulze, Günther G.
  • University of Freiburg, Department of International Economic Policy (iep)

Entstanden

  • 2024

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