The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market
The aim of the present study is to examine the effect of the events related to the “Panama leaks” on the stock market in Pakistan. For this purpose, we have analyzed a total of 24 events related to the “Panama leaks” in Pakistan. These events are further divided into three broad categories i.e. 8 e...
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| Format: | Article |
| Language: | English |
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National University of Modern Languages (NUML), Islamabad
2023-12-01
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| Series: | NUML International Journal of Business & Management |
| Subjects: | |
| Online Access: | https://nijbm.numl.edu.pk/index.php/BM/article/view/164 |
| _version_ | 1797198328896684032 |
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| author | Muhammad Husnain Syeda Nitashah Anwer Shahjahan Sarfraz Raja |
| author_facet | Muhammad Husnain Syeda Nitashah Anwer Shahjahan Sarfraz Raja |
| author_sort | Muhammad Husnain |
| collection | DOAJ |
| description |
The aim of the present study is to examine the effect of the events related to the “Panama leaks” on the stock market in Pakistan. For this purpose, we have analyzed a total of 24 events related to the “Panama leaks” in Pakistan. These events are further divided into three broad categories i.e. 8 events are related to the news/statements by the opposition parties, 8 events are related to news/statements by Sharif’s family/sitting governments, and 8 events are related to the news/statements by the Apex court in Pakistan. The analyzed period begins on the 1st of March 2015 and has lasted until the 30th of July 2018. This research applies the event study methodology, and overall findings show that “Panama leaks-related news has a significant impact on stock returns in Pakistan. What is more, all the news related to the Apex court in the Panama leaks show a significant positive impact on stock returns. This study provides a guideline to investors, regulators, policymakers, and other stakeholders by proving that all the news related to the “Panama leaks” have a significant impact on stock returns in Pakistan. Future researchers can extend this study by analyzing the impact of the “Panama leaks” on stock returns in all the countries to which the “Panama leaks” are connected.
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| first_indexed | 2024-03-07T19:13:41Z |
| format | Article |
| id | doaj.art-d8a3be570ef74d6b95c10e6c92192f65 |
| institution | Directory Open Access Journal |
| issn | 2410-5392 2521-473X |
| language | English |
| last_indexed | 2024-04-24T06:58:07Z |
| publishDate | 2023-12-01 |
| publisher | National University of Modern Languages (NUML), Islamabad |
| record_format | Article |
| series | NUML International Journal of Business & Management |
| spelling | doaj.art-d8a3be570ef74d6b95c10e6c92192f652024-04-22T10:04:02ZengNational University of Modern Languages (NUML), IslamabadNUML International Journal of Business & Management2410-53922521-473X2023-12-01182The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity MarketMuhammad Husnain0Syeda Nitashah Anwer1Shahjahan Sarfraz Raja2Department of Business Administration, University of SahiwalDepartment of Business Administration, University of Sahiwal, SahiwalPost Graduate Centre, Limkokwing University of Creative Technology, Cyberjaya, Malaysia. The aim of the present study is to examine the effect of the events related to the “Panama leaks” on the stock market in Pakistan. For this purpose, we have analyzed a total of 24 events related to the “Panama leaks” in Pakistan. These events are further divided into three broad categories i.e. 8 events are related to the news/statements by the opposition parties, 8 events are related to news/statements by Sharif’s family/sitting governments, and 8 events are related to the news/statements by the Apex court in Pakistan. The analyzed period begins on the 1st of March 2015 and has lasted until the 30th of July 2018. This research applies the event study methodology, and overall findings show that “Panama leaks-related news has a significant impact on stock returns in Pakistan. What is more, all the news related to the Apex court in the Panama leaks show a significant positive impact on stock returns. This study provides a guideline to investors, regulators, policymakers, and other stakeholders by proving that all the news related to the “Panama leaks” have a significant impact on stock returns in Pakistan. Future researchers can extend this study by analyzing the impact of the “Panama leaks” on stock returns in all the countries to which the “Panama leaks” are connected. https://nijbm.numl.edu.pk/index.php/BM/article/view/164Panama LeaksStock ReturnEvent Study MethodologyEmerging Economy |
| spellingShingle | Muhammad Husnain Syeda Nitashah Anwer Shahjahan Sarfraz Raja The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market NUML International Journal of Business & Management Panama Leaks Stock Return Event Study Methodology Emerging Economy |
| title | The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market |
| title_full | The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market |
| title_fullStr | The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market |
| title_full_unstemmed | The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market |
| title_short | The impact of “Panama Leaks” on the Stock Market: Empirical Evidence from the Emerging Equity Market |
| title_sort | impact of panama leaks on the stock market empirical evidence from the emerging equity market |
| topic | Panama Leaks Stock Return Event Study Methodology Emerging Economy |
| url | https://nijbm.numl.edu.pk/index.php/BM/article/view/164 |
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