Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets
This study aims to investigate regional and periodic asymmetries in the impact of the outbreak of the Russia-Ukraine war on global equity markets. Employing the event study methodology, the current study examines global stock market reactions within a 61-day window centred around the event day, i.e....
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2024-04-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844024043937 |
| _version_ | 1827309818466009088 |
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| author | Anand Kumar Mishra Yasmeen Ansari Rohit Bansal Prince Kumar Maurya |
| author_facet | Anand Kumar Mishra Yasmeen Ansari Rohit Bansal Prince Kumar Maurya |
| author_sort | Anand Kumar Mishra |
| collection | DOAJ |
| description | This study aims to investigate regional and periodic asymmetries in the impact of the outbreak of the Russia-Ukraine war on global equity markets. Employing the event study methodology, the current study examines global stock market reactions within a 61-day window centred around the event day, i.e., February 24, 2022. MSCI equity indices of 47 sample countries have been utilized to ensure uniformity in the index development methodology. They provide broader coverage of global equity markets by including large and mid-cap companies, representing approximately 85% of the free float-adjusted market capitalization for each sampled country. The study extends the event window to 61 days to assess the enduring effects of the war over a relatively longer period. The research delineates regional and periodic asymmetries and posits that the impact of the war on a market is contingent upon its geographical proximity and trade relations with Russia and Ukraine. Additionally, the impact is stronger during a shorter window surrounding the event date but diminishes over the extended period. |
| first_indexed | 2024-04-24T19:48:25Z |
| format | Article |
| id | doaj.art-538ce672c6864465bf42b8a3480cf227 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-04-24T19:48:25Z |
| publishDate | 2024-04-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-538ce672c6864465bf42b8a3480cf2272024-03-25T04:17:57ZengElsevierHeliyon2405-84402024-04-01107e28362Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock marketsAnand Kumar Mishra0Yasmeen Ansari1Rohit Bansal2Prince Kumar Maurya3Department of Management Studies, Rajiv Gandhi Institute of Petroleum Technology, Amethi, Uttar Pradesh, India; Corresponding author. Business Analytics Lab, Rajiv Gandhi Institute of Petroleum Technology, Amethi, Uttar Pradesh, India 229304,Saudi Electronic University, Ministry of Higher Education, Jeddah, Saudi ArabiaDepartment of Management Studies, Rajiv Gandhi Institute of Petroleum Technology, Amethi, Uttar Pradesh, IndiaDepartment of Management Studies, Rajiv Gandhi Institute of Petroleum Technology, Amethi, Uttar Pradesh, IndiaThis study aims to investigate regional and periodic asymmetries in the impact of the outbreak of the Russia-Ukraine war on global equity markets. Employing the event study methodology, the current study examines global stock market reactions within a 61-day window centred around the event day, i.e., February 24, 2022. MSCI equity indices of 47 sample countries have been utilized to ensure uniformity in the index development methodology. They provide broader coverage of global equity markets by including large and mid-cap companies, representing approximately 85% of the free float-adjusted market capitalization for each sampled country. The study extends the event window to 61 days to assess the enduring effects of the war over a relatively longer period. The research delineates regional and periodic asymmetries and posits that the impact of the war on a market is contingent upon its geographical proximity and trade relations with Russia and Ukraine. Additionally, the impact is stronger during a shorter window surrounding the event date but diminishes over the extended period.http://www.sciencedirect.com/science/article/pii/S2405844024043937Event-studyStock marketRussia-Ukraine warGeopolitical riskEconomic policy uncertainty |
| spellingShingle | Anand Kumar Mishra Yasmeen Ansari Rohit Bansal Prince Kumar Maurya Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets Heliyon Event-study Stock market Russia-Ukraine war Geopolitical risk Economic policy uncertainty |
| title | Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets |
| title_full | Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets |
| title_fullStr | Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets |
| title_full_unstemmed | Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets |
| title_short | Regional and periodic asymmetries in the effect of Russia-Ukraine war on global stock markets |
| title_sort | regional and periodic asymmetries in the effect of russia ukraine war on global stock markets |
| topic | Event-study Stock market Russia-Ukraine war Geopolitical risk Economic policy uncertainty |
| url | http://www.sciencedirect.com/science/article/pii/S2405844024043937 |
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