Impact of Sukuk Announcement on Stock Market Reaction in Gulf Cooperation Council

Naser Abdullah Hammad Alazemi; Engku Rabiah Adawiah, Ashurov Sharofiddin

Abstract: The stock market reaction varied among the reported previous studies discussed within the literature review section of this study. These variations are attributed to the stock market structure, time horizon, sector, economic situation, and macroeconomic indicators. In the case of GCC, the negative reaction disappeared in twelve days; the market slowly absorbed the negative news. The slow absorption from the stock market can be linked to other financial events’ interactions. These events found with a negative effect on the stock market, such as dividends, CEO turnover, change in interest rate, which interfered with the Sukuk announcement.

FULL TEXT PDF 1-6 ] DOI: 10.30566/ijo-bs/2022.02.83

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