Anmerkungen:
In: International Journal of Business, Vol. 8, No. 3, 2003
Beschreibung:
The past decade has seen increasing activity regarding the peace process between Israel and its Arab neighbors. In this paper I study the return patterns of the Tel Aviv Stock Exchange index and of Israeli firms' stocks traded in the United-States following announcements of news related to the peace process. I find that returns on the Tel Aviv Stock Exchange following political events are more extreme than returns on days that do not follow political events. This pattern is also apparent in returns of dually listed stocks (those traded both in the US and in Israel). The pattern is not present in Israeli stocks that are traded only in the US