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

International Journal of Business Society, Vol. 6, Issue 2
Naser Abdullah Hammad AlazemiEngku Rabiah AdawiahAshurov Sharofiddin
Sukuk announcementStock market reactionGCC
PDFRegular IssueDOI: 10.30566/ijo-bs/2022.02.83
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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.

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Article Information

Article Details
Volume & IssueVol. 6, Iss. 2
Publication DateFeb 28, 2022
Authors
Naser Abdullah Hammad Alazemi
Engku Rabiah Adawiah
Ashurov Sharofiddin
DOI
10.30566/ijo-bs/2022.02.83
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Impact of Sukuk Announcement on Stock Market Reaction in Gulf Cooperation Council | International Journal of Business Society