that changes in risk positively predict future stock returns. The countries with the highest increase in geopolitical …Using a news-based gauge of geopolitical risk, we study its role for asset pricing in global emerging markets. We find …

The aim of this study was to determine whether referendums affect stock price risks and returns, using an event study … of a positive effect on stock returns. However, using a longer window of three days before and after the referendum …, there was evidence of a positive effect from the referendum on the market's returns and a negative effect on its volatility …