The impact of business and political news on the GCC stock markets

Alanoud Al-Maadid; Guglielmo Maria Caporale; Fabio Spagnolo; Nicola Spagnolo

doi:10.1016/j.ribaf.2019.101102

The impact of business and political news on the GCC stock markets

Alanoud Al-Maadid, Guglielmo Maria Caporale^*, Fabio Spagnolo, Nicola Spagnolo

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

23 Citations (Scopus)

Abstract

This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.

Original language	English
Article number	101102
Journal	Research in International Business and Finance
Volume	52
DOIs	https://doi.org/10.1016/j.ribaf.2019.101102
Publication status	Published - Apr 2020

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10.1016/j.ribaf.2019.101102

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title = "The impact of business and political news on the GCC stock markets",

abstract = "This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.",

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The impact of business and political news on the GCC stock markets

Abstract

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