The reaction of the financial market to the January 6 United States Capitol attack: An intraday study

【Author】 Stephens, John; Mehdian, Seyed; Gherghina, Stefan Cristian; Stoica, Ovidiu

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】This paper investigates the impact of the January 6 United States Capitol attack on financial markets. Minute-by-minute prices of Bitcoin, the Dow Jones Industrial Average Index, S & P 500 and the Nasdaq 100 index are used. Following the traditional event study approach, we document that the cumulative abnormal returns of Bitcoin drop after the attack while market indices rise following the event. These findings indicate that the Bitcoin market is marginally more efficient, but not statistically significant, after the attack than the financial markets.

【Keywords】Financial markets; Intraday study; Event study

【发表时间】2023 SEP

【收录时间】2023-07-12

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析