Political uncertainty and stock market returns: evidence from the 1995 Quebec referendum

In this study, we investigate the short run effect of the 30 October 1995 Quebec referendum on the common stock returns of Quebec firms. Our results show that the uncertainty surrounding the referendum outcome had an impact on stock returns of Quebec firms. We also find that the effect of the referendum varied with the political risk exposure of Quebec firms, that is, the structure of assets and principally the degree of foreign involvement.

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Year of publication:	2006
Authors:	Beaulieu, Marie-Claude ; Cosset, Jean-Claude ; Essaddam, Naceur
Published in:	Canadian Journal of Economics. - Canadian Economics Association - CEA. - Vol. 39.2006, 2, p. 621-642
Publisher:	Canadian Economics Association - CEA

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published
Classification:	G14 - Information and Market Efficiency; Event Studies ; G15 - International Financial Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005604474