Rilwan Sakariyahu
Mass shootings, investors’ panic, and market anomalies
Sakariyahu, Rilwan; Lawal, Rodiat; Yusuf, Abdulmueez; Olatunj, Abdulganiyu
Authors
Rodiat Lawal
Abdulmueez Yusuf
Abdulganiyu Olatunj
Abstract
Do mass shootings exacerbate investors’ sentiments towards the stock market? We empirically examine this question using 1,947 cases of mass shootings in the US from February 2014 to May 2023. We document that investors react negatively to mass shootings, as evidenced by the drop in market index immediately following the incidence. Further analysis indicates that the impact varies by sectors and the impact of the shootings on market performance is correlated with the intensity of internet-related search about the event.
Citation
Sakariyahu, R., Lawal, R., Yusuf, A., & Olatunj, A. (2023). Mass shootings, investors’ panic, and market anomalies. Economics Letters, 321, Article 111284. https://doi.org/10.1016/j.econlet.2023.111284
Journal Article Type | Article |
---|---|
Acceptance Date | Jul 31, 2023 |
Online Publication Date | Aug 4, 2023 |
Publication Date | 2023-10 |
Deposit Date | Aug 4, 2023 |
Publicly Available Date | Aug 4, 2023 |
Print ISSN | 0165-1765 |
Electronic ISSN | 1873-7374 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 321 |
Article Number | 111284 |
DOI | https://doi.org/10.1016/j.econlet.2023.111284 |
Keywords | Mass shooting, Investor panic, Stock market, Anomalies |
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http://creativecommons.org/licenses/by/4.0/
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Publisher Licence URL
http://creativecommons.org/licenses/by/4.0/
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