Market behavior in the face of political violence : evidence from Tsarist Russia

Hartwell, Christopher A.

doi:10.3390/jrfm14090445

Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-23300

Full metadata record

DC Field	Value	Language
dc.contributor.author	Hartwell, Christopher A.	-
dc.date.accessioned	2021-10-14T16:12:08Z	-
dc.date.available	2021-10-14T16:12:08Z	-
dc.date.issued	2021	-
dc.identifier.issn	1911-8074	de_CH
dc.identifier.issn	1911-8066	de_CH
dc.identifier.uri	https://digitalcollection.zhaw.ch/handle/11475/23300	-
dc.description.abstract	Even efficient financial markets may break down under periods of prolonged stress, especially when the ramification of an event is unclear. Political violence is such an event, sending immediate signals about possible impact on firm valuations but unclear information about the future viability of existing institutions. This paper examines the effect of political violence in 19th century Russia on its stock market; using a battery of unit root and variance ratio tests, the evidence is that Russian financial markets were mostly efficient in processing short-term information from political violence. However, when violence was at its peak between the assassination of the Tsar in 1881 and the 1905 revolution, large deviations from efficiency can be detected, as markets were unsure about the viability of the existing rules of the game.	de_CH
dc.language.iso	en	de_CH
dc.publisher	MDPI	de_CH
dc.relation.ispartof	Journal of Risk and Financial Management	de_CH
dc.rights	http://creativecommons.org/licenses/by/4.0/	de_CH
dc.subject	Efficient market	de_CH
dc.subject	Institution	de_CH
dc.subject	Political violence	de_CH
dc.subject.ddc	320: Politik	de_CH
dc.subject.ddc	332: Finanzwirtschaft	de_CH
dc.title	Market behavior in the face of political violence : evidence from Tsarist Russia	de_CH
dc.type	Beitrag in wissenschaftlicher Zeitschrift	de_CH
dcterms.type	Text	de_CH
zhaw.departement	School of Management and Law	de_CH
zhaw.organisationalunit	International Management Institute (IMI)	de_CH
dc.identifier.doi	10.3390/jrfm14090445	de_CH
dc.identifier.doi	10.21256/zhaw-23300	-
zhaw.funding.eu	No	de_CH
zhaw.issue	9	de_CH
zhaw.originated.zhaw	Yes	de_CH
zhaw.pages.end	12	de_CH
zhaw.pages.start	1	de_CH
zhaw.publication.status	publishedVersion	de_CH
zhaw.volume	14	de_CH
zhaw.publication.review	Peer review (Publikation)	de_CH
zhaw.webfeed	W: Spitzenpublikation	de_CH
zhaw.author.additional	No	de_CH
zhaw.display.portrait	Yes	de_CH
Appears in collections:	Publikationen School of Management and Law

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Hartwell, C. A. (2021). Market behavior in the face of political violence : evidence from Tsarist Russia. Journal of Risk and Financial Management, 14(9), 1–12. https://doi.org/10.3390/jrfm14090445

Hartwell, C.A. (2021) ‘Market behavior in the face of political violence : evidence from Tsarist Russia’, Journal of Risk and Financial Management, 14(9), pp. 1–12. Available at: https://doi.org/10.3390/jrfm14090445.

C. A. Hartwell, “Market behavior in the face of political violence : evidence from Tsarist Russia,” Journal of Risk and Financial Management, vol. 14, no. 9, pp. 1–12, 2021, doi: 10.3390/jrfm14090445.

HARTWELL, Christopher A., 2021. Market behavior in the face of political violence : evidence from Tsarist Russia. Journal of Risk and Financial Management. 2021. Bd. 14, Nr. 9, S. 1–12. DOI 10.3390/jrfm14090445

Hartwell, Christopher A. 2021. “Market Behavior in the Face of Political Violence : Evidence from Tsarist Russia.” Journal of Risk and Financial Management 14 (9): 1–12. https://doi.org/10.3390/jrfm14090445.

Hartwell, Christopher A. “Market Behavior in the Face of Political Violence : Evidence from Tsarist Russia.” Journal of Risk and Financial Management, vol. 14, no. 9, 2021, pp. 1–12, https://doi.org/10.3390/jrfm14090445.