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      • Bilkent Theses
      • Theses - Department of Management
      • Dept. of Management - Master's degree
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      The impacts of the Gulf War on the US defense industry

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      Author
      Cantenar, Ömer Faruk
      Advisor
      Mugan, Can Şımga
      Date
      2000
      Publisher
      Bilkent University
      Language
      English
      Type
      Thesis
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      Abstract
      In this study, the military intervention of the U.S to the Gulf Crises is taken as a major event and the impact of this event on the U.S defense stocks is examined by using event study methodology. The sample includes thirty-nine defense firms selected from the U.S Department of Defense top contractors list. The analysis of the abnormal returns on these defense stocks shows that the U.S. military intervention to the Gulf crises affects these stocks significantly and positively both in the short-term and in the long-term. The univariate analysis indicates that stock returns of defense firms are affected differently from this war depending on their defense dependency and market value. There exists a positive relationship between defense dependency and abnormal returns of the defense firms, controlling for the size of the firm.
      Keywords
      Event Study
      Defense Industry
      Defense Firms
      War Impact
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      http://hdl.handle.net/11693/18198
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      • Dept. of Management - Master's degree 295
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