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Abnormal stock returns of Greek banks during COVID-19: an event study

dc.contributor.authorPatsoulis, Patroklos
dc.description.abstractThis paper aims to disentangle the impact of the COVID-19 crisis on four major Greek bank stocks that were traded in the Athens Stock Exchange during the period the pandemic begun. To this end we employ an event study methodology and estimate Cumulative Abnormal Returns (CARs) that stem from three key announcement dates. These dates include two monetary policy and a major health news announcement. The four banks we focus on are the National Bank of Greece, Eurobank, Alpha Bank and Piraeus Bank. We calculate abnormal stock returns in windows of ±10, ±5, ±2, ±1 and day of the announcements, and report that monetary policy announcements either do not affect stock performance or their effect is only mild, while health news have a positive impact on stock returns.en_UK
dc.publisherTaylor & Francisen_UK
dc.relation.ispartofseriesApplied Economics Letters;
dc.subjectstock marketen_UK
dc.subjecthealth newsen_UK
dc.titleAbnormal stock returns of Greek banks during COVID-19: an event studyen_UK

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