This study attempts to investigate the impact of Sri Lankan government budget announcements on five sector indexes of Colombo Stock Exchange, namely banks, finance & insurance; beverage, food & tobacco; manufacturing; motor; diversified holdings. The Event study methodology was used to analyze sector wise stock price behavior during the sample period of 2002 to 2013. Results revealed that although the overall trend of the average returns of each sector around budget announcements are same the magnitude of the reaction is different from sector to sector. Motor was the mostaffected sector and diversified holdings sector was the least affected.
| Published in | Journal of Finance and Accounting (Volume 5, Issue 6) |
| DOI | 10.11648/j.jfa.20170506.12 |
| Page(s) | 214-218 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2017. Published by Science Publishing Group |
Government Budget, Sector Indexes, Average Returns
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APA Style
Udani Chathurika Edirisinghe. (2017). Impact of Government Budget Announcement on Stock Market Sector Indices: Evidence from Colombo Stock Exchange. Journal of Finance and Accounting, 5(6), 214-218. https://doi.org/10.11648/j.jfa.20170506.12
ACS Style
Udani Chathurika Edirisinghe. Impact of Government Budget Announcement on Stock Market Sector Indices: Evidence from Colombo Stock Exchange. J. Finance Account. 2017, 5(6), 214-218. doi: 10.11648/j.jfa.20170506.12
AMA Style
Udani Chathurika Edirisinghe. Impact of Government Budget Announcement on Stock Market Sector Indices: Evidence from Colombo Stock Exchange. J Finance Account. 2017;5(6):214-218. doi: 10.11648/j.jfa.20170506.12
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Download@article{10.11648/j.jfa.20170506.12,
author = {Udani Chathurika Edirisinghe},
title = {Impact of Government Budget Announcement on Stock Market Sector Indices: Evidence from Colombo Stock Exchange},
journal = {Journal of Finance and Accounting},
volume = {5},
number = {6},
pages = {214-218},
doi = {10.11648/j.jfa.20170506.12},
url = {https://doi.org/10.11648/j.jfa.20170506.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20170506.12},
abstract = {This study attempts to investigate the impact of Sri Lankan government budget announcements on five sector indexes of Colombo Stock Exchange, namely banks, finance & insurance; beverage, food & tobacco; manufacturing; motor; diversified holdings. The Event study methodology was used to analyze sector wise stock price behavior during the sample period of 2002 to 2013. Results revealed that although the overall trend of the average returns of each sector around budget announcements are same the magnitude of the reaction is different from sector to sector. Motor was the mostaffected sector and diversified holdings sector was the least affected.},
year = {2017}
}
TY - JOUR T1 - Impact of Government Budget Announcement on Stock Market Sector Indices: Evidence from Colombo Stock Exchange AU - Udani Chathurika Edirisinghe Y1 - 2017/12/23 PY - 2017 N1 - https://doi.org/10.11648/j.jfa.20170506.12 DO - 10.11648/j.jfa.20170506.12 T2 - Journal of Finance and Accounting JF - Journal of Finance and Accounting JO - Journal of Finance and Accounting SP - 214 EP - 218 PB - Science Publishing Group SN - 2330-7323 UR - https://doi.org/10.11648/j.jfa.20170506.12 AB - This study attempts to investigate the impact of Sri Lankan government budget announcements on five sector indexes of Colombo Stock Exchange, namely banks, finance & insurance; beverage, food & tobacco; manufacturing; motor; diversified holdings. The Event study methodology was used to analyze sector wise stock price behavior during the sample period of 2002 to 2013. Results revealed that although the overall trend of the average returns of each sector around budget announcements are same the magnitude of the reaction is different from sector to sector. Motor was the mostaffected sector and diversified holdings sector was the least affected. VL - 5 IS - 6 ER -
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