The impact of BREXIT vote on stock returns - an event study on European bank industry
The study focuses on the impact of United Kingdom’s vote for leaving the European Union on the banks stocks in Europe. The tool used for measuring this impact is event study. Putting the center of attention on the banking industry, we investigate 63 major banks in Europe. Abnormal returns are defined by using the well-known market model. As expected, the results show that banks experience signific