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The black lives matter movement in event study: an analysis on politically-affiliated corporations in the Us
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The anti-racial discrimination protests promoted by the Black Lives Matter movement were frequently reported by the media worldwide and strongly affected public opinion. This event study research investigates their effect on financial markets, highlighting the uneven impact on stock returns of companies supporting the Republican party vis-à-vis the Democratic party and non-politicised corporations. This thesis contributes to the identification of linkages between politics, activism and financial markets, which have implications on corporate strategic decisions, asset management and on the role of the media in influencing volatility in financial markets.
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Event study Protests Black lives matter Republican Politics Efficient market hyothesis Stock returns United States Financial markets Media News Financial economics