Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń
The purpose of the article/hypothesis: The aim of the article is to examine the significance of the reaction of stock exchange investors in that country to the publication of information about the reintroduction of border controls in order to limit the movement of people, especially foreigners. The...
| Main Authors: | , |
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| Format: | Article |
| Language: | deu |
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Lodz University Press
2021-12-01
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| Series: | Finanse i Prawo Finansowe |
| Subjects: | |
| Online Access: | https://czasopisma.uni.lodz.pl/fipf/article/view/9586 |
| _version_ | 1831807964138176512 |
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| author | Kamila Ulmann Filip Roszkowski |
| author_facet | Kamila Ulmann Filip Roszkowski |
| author_sort | Kamila Ulmann |
| collection | DOAJ |
| description | The purpose of the article/hypothesis: The aim of the article is to examine the significance of the reaction of stock exchange investors in that country to the publication of information about the reintroduction of border controls in order to limit the movement of people, especially foreigners. The article discusses issues related to economics and behavioral finance, paying special attention to the irrationality of decisions, discussed by many authors, under the influence of various factors.
Methodology: In the case of the empirical study, event analysis methodologies were applied, using abnormal and cumulative abnormal rates of return.
Results of the research: The results of a detailed analysis of events, based on overnormative single-period logarithmic rates of return and cumulative over-normative single-period logarithmic rates of return for an event, showed an interesting case contradicting the thesis on irrationality of investor behavior in the capital market, while questioning the efficient market hypothesis. |
| first_indexed | 2024-12-22T20:14:40Z |
| format | Article |
| id | doaj.art-f4a805f95b8a42dba955cde19e0ad4a6 |
| institution | Directory Open Access Journal |
| issn | 2391-6478 2353-5601 |
| language | deu |
| last_indexed | 2024-12-22T20:14:40Z |
| publishDate | 2021-12-01 |
| publisher | Lodz University Press |
| record_format | Article |
| series | Finanse i Prawo Finansowe |
| spelling | doaj.art-f4a805f95b8a42dba955cde19e0ad4a62022-12-21T18:13:59ZdeuLodz University PressFinanse i Prawo Finansowe2391-64782353-56012021-12-01432839610.18778/2391-6478.4.32.069483Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeńKamila Ulmann0https://orcid.org/0000-0003-4141-8932Filip Roszkowski1https://orcid.org/0000-0001-6670-6223Uniwersytet Gdański, Wydział Ekonomiczny, Wydział ZarządzaniaUniwersytet Gdański, Wydział EkonomicznyThe purpose of the article/hypothesis: The aim of the article is to examine the significance of the reaction of stock exchange investors in that country to the publication of information about the reintroduction of border controls in order to limit the movement of people, especially foreigners. The article discusses issues related to economics and behavioral finance, paying special attention to the irrationality of decisions, discussed by many authors, under the influence of various factors. Methodology: In the case of the empirical study, event analysis methodologies were applied, using abnormal and cumulative abnormal rates of return. Results of the research: The results of a detailed analysis of events, based on overnormative single-period logarithmic rates of return and cumulative over-normative single-period logarithmic rates of return for an event, showed an interesting case contradicting the thesis on irrationality of investor behavior in the capital market, while questioning the efficient market hypothesis.https://czasopisma.uni.lodz.pl/fipf/article/view/9586event studybehavioral economicsbehavioral financeirrationalitycapital market |
| spellingShingle | Kamila Ulmann Filip Roszkowski Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń Finanse i Prawo Finansowe event study behavioral economics behavioral finance irrationality capital market |
| title | Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń |
| title_full | Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń |
| title_fullStr | Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń |
| title_full_unstemmed | Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń |
| title_short | Reakcja inwestorów giełdy hiszpańskiej na zamknięcie granic. Weryfikacja za pomocą metodyki analizy zdarzeń |
| title_sort | reakcja inwestorow gieldy hiszpanskiej na zamkniecie granic weryfikacja za pomoca metodyki analizy zdarzen |
| topic | event study behavioral economics behavioral finance irrationality capital market |
| url | https://czasopisma.uni.lodz.pl/fipf/article/view/9586 |
| work_keys_str_mv | AT kamilaulmann reakcjainwestorowgiełdyhiszpanskiejnazamknieciegranicweryfikacjazapomocametodykianalizyzdarzen AT filiproszkowski reakcjainwestorowgiełdyhiszpanskiejnazamknieciegranicweryfikacjazapomocametodykianalizyzdarzen |