Impact of SNB Decision to Unpeg the Franc from Euro on Financial
Markets: Event Study Approach Cover Image

Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach
Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach

Author(s): Dumitru-Cristian Oanea, Stela Jakova
Subject(s): Economy
Published by: Editura Universitară Danubius
Keywords: event study; exchange rates; stock markets; Swiss franc

Summary/Abstract: The aim of this paper is to study the impact of Swiss National Bank (SNB) decision to unpeg the franc from euro, which was taken on 15th January, 2015, on main financial markets around the word. Our results shows that the stocks market reacted significantly in the event day (except stock market from Asia & Australia), when was recorded a significant decrease of 0.33% in the average return. Moreover, it seems that after 4 days there was recorded the highest significant decrease of global market return of 1.3%.

  • Issue Year: 12/2016
  • Issue No: 2
  • Page Range: 208-218
  • Page Count: 11
  • Language: English