G20 Stock Market Reaction to the G20 New Delhi Summit, 2023

DOI

10.2991/978-94-6463-585-0_22How to use a DOI?

Keywords

efficient market; abnormal return; event study; G20 Stock Exchange

Abstract

The purpose of this study is to examine the impact of the G20 New Delhi Summit on the stock markets of the G20 member countries. In this study, we calculated the abnormal return and the average abnormal return using the event study approach. The sample in this study consists of 43 G20 member countries. This study observes stock data of G20 member stock markets for 10 trading days around the event date. The analysis of the difference in the average abnormal return (AAR) before and after the G20 New Delhi Summit on September 9–10, 2023 revealed the impact of significant differences in the average abnormal return. This study also categorizes the data based on developed and developing countries. The analysis based on average abnormal returns shows that there are significant differences in developed countries on the day before and the day after the event. However, stock markets in developing countries do not show significant AAR differences. Finally, the regional analysis shows that the European region was affected by a positive and significant average abnormal return due to this event. Whereas, the Asian and American regions show no difference in average abnormal returns.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Uliya Nurjannah
AU  - Intan Nurul Awwaliyah
AU  - Arnis Budi Susanto
AU  - Hadi Paramu
AU  - Nurhayati Nurhayati
PY  - 2024
DA  - 2024/12/11
TI  - G20 Stock Market Reaction to the G20 New Delhi Summit, 2023
BT  - Proceedings of the 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024)
PB  - Atlantis Press
SP  - 303
EP  - 316
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-585-0_22
DO  - 10.2991/978-94-6463-585-0_22
ID  - Nurjannah2024
ER  -