The impact of terrorist incidents on the sub financial and non-financial sectors
Dlawar Mahdi Hadi · Bawan Yassin Sabir · Farman Marif Ahmed
International Journal of Research in Business and Social Science · 2022 · Vol. 11 / Issue 1 · 187-195
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Abstract
This paper examines the impact of the September 11th attacks on the United States financial and non-financial sectors. The empirical analysis includes 5 financial and 28 non-financial sub-sector indices using the event study method, structural break test, and volatility analyses. The results of the estimation show that except for the short-lived impact on the real estate sector, the attacks had no significant impact on financial sector indices. Different reactions among non-financial sectors are observed. Travel and leisure and leisure goods sectors were the two industries that were mostly affected by the attacks due to the nature of their business. The outcomes of the analyses provide several diversification strategies and speculation opportunities for both portfolio managers and investors.
Keywords: {'name': 'September 11th attacks, financial sector, non-financial sector, United States'}
Authors & affiliations
Dlawar Mahdi Hadi
Affiliation not supplied
Bawan Yassin Sabir
Affiliation not supplied
Farman Marif Ahmed
Affiliation not supplied
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Supplied references, not a list of publications citing this article.
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