Stephanou, Costas M.; Toit, Gawie S. du; Maritz, Marius J. - In: Multinational Finance Journal 7 (2003) 3-4, pp. 153-175
release of Nelson Mandela? Economic or political events? This paper employs a dynamic version of the APT model for the period … political events in late 1991, and economic events in mid 1994, changed APTM’s specification. This would indicate that during … periods of profound political change, political events drive stock market prices. …