The impacts of the Kosovo War on NATO defense industries
Item Usage Stats
MetadataShow full item record
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/29205
The purpose of this study is to examine the effects of the Kosovo War on the NATO countries defense industry stocks. The data set covers daily prices of stocks of 34 U.S., 12 U.K., 7 French and 3 Turkish companies, totaling 56 defense stocks. The analysis is conducted by using both standard event study methodology and multivariate regression model. The study provides evidence that the defense stocks reacted positively and significantly to the Kosovo War. The study shows that there is a significant difference between the abnormal returns of the U.S. defense stocks and European defense stocks. However, the analysis proves that there is no significant difference between the abnormal returns of aerospace stocks and non-aerospace defense stocks.
KeywordsThe Kosovo War
multivariate regression model
HD9743.A2 A84 2002