The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis
Purpose – The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return. Design/methodology/approach – The author uses daily data from March 2, 2020, to July 23, 2021. Findings – The a...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2024-01-01
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| Series: | Journal of Business and Socio-Economic Development |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/JBSED-02-2022-0022/full/pdf |
| _version_ | 1797366256107520000 |
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| author | Wassim Ben Ayed |
| author_facet | Wassim Ben Ayed |
| author_sort | Wassim Ben Ayed |
| collection | DOAJ |
| description | Purpose – The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return. Design/methodology/approach – The author uses daily data from March 2, 2020, to July 23, 2021. Findings – The author finds that policies interventions have a negative impact on Tunisia's stock market, particularly stock market returns due to stringency, confinement and health measures. Also, Government announcements regarding economic has a negative impact on Tunisia's stock market but this impact is insignificant. By conducting an additional analysis, the author shows that the government interventions policies amplify the negative effect of COVID-19 on stock returns. Research limitations/implications – These results will be useful for policy authorities seeking to consider the advantages and drawbacks of government measures. Finally, a legislative proposal about the audit of public debt should be included in the Constitution to spur Tunisia's economic and social recovery. Originality/value – This study contributes to the related literature in two ways: First, it is the first study to examine the impact of government actions on stock market performance. Second, it bridges a gap in the literature by investigating the case of Tunisia, because most studies focus on developed and emerging economies. |
| first_indexed | 2024-03-08T17:01:41Z |
| format | Article |
| id | doaj.art-32faad07259d41298cb62019560b3841 |
| institution | Directory Open Access Journal |
| issn | 2635-1374 2635-1692 |
| language | English |
| last_indexed | 2024-03-08T17:01:41Z |
| publishDate | 2024-01-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Journal of Business and Socio-Economic Development |
| spelling | doaj.art-32faad07259d41298cb62019560b38412024-01-04T10:07:48ZengEmerald PublishingJournal of Business and Socio-Economic Development2635-13742635-16922024-01-0141203610.1108/JBSED-02-2022-0022The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisisWassim Ben Ayed0Department of Accounting, Military Academy of Tunisia, Fondouk Jedid, TunisiaPurpose – The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return. Design/methodology/approach – The author uses daily data from March 2, 2020, to July 23, 2021. Findings – The author finds that policies interventions have a negative impact on Tunisia's stock market, particularly stock market returns due to stringency, confinement and health measures. Also, Government announcements regarding economic has a negative impact on Tunisia's stock market but this impact is insignificant. By conducting an additional analysis, the author shows that the government interventions policies amplify the negative effect of COVID-19 on stock returns. Research limitations/implications – These results will be useful for policy authorities seeking to consider the advantages and drawbacks of government measures. Finally, a legislative proposal about the audit of public debt should be included in the Constitution to spur Tunisia's economic and social recovery. Originality/value – This study contributes to the related literature in two ways: First, it is the first study to examine the impact of government actions on stock market performance. Second, it bridges a gap in the literature by investigating the case of Tunisia, because most studies focus on developed and emerging economies.https://www.emerald.com/insight/content/doi/10.1108/JBSED-02-2022-0022/full/pdfCOVID-19Government interventionsTunisian stock market |
| spellingShingle | Wassim Ben Ayed The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis Journal of Business and Socio-Economic Development COVID-19 Government interventions Tunisian stock market |
| title | The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis |
| title_full | The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis |
| title_fullStr | The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis |
| title_full_unstemmed | The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis |
| title_short | The Tunisian stock market before invoking Article 80 of the Constitution: the (in)direct impact of government interventions during the sanitary crisis |
| title_sort | tunisian stock market before invoking article 80 of the constitution the in direct impact of government interventions during the sanitary crisis |
| topic | COVID-19 Government interventions Tunisian stock market |
| url | https://www.emerald.com/insight/content/doi/10.1108/JBSED-02-2022-0022/full/pdf |
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