主办单位：中国财政发展协同创新中心
时间： 2017年11月24 日（周五）13:30-15:00
地点： 沙河校区西区404室

主讲人：Eric Lenz
The speaker is an assistant professor in Texas A&M’s Department of Economics and the Bush School of Government and Public Service teaching economic data analysis, economic forecasting, and international economics. He researches international economics and finance with a focus on conflict, terrorism, and other market disruptions.

讲座概要:
The societal effects from terrorist attacks are well-known: the loss of life, destruction of property, and the inspiration of fear. However, can these effects be seen in the markets through stock returns in different sectors of the economy? We examine a sample of 16 market indices in Turkey from May 2013 through August 2016 to assess market vulnerability to terrorist attacks. The severe terrorist attack in July 2015 and 30 days after serve as the treatment for our difference-in-difference methodology. Our findings suggest that investors in Turkish markets looking to protect against the negative effects from terrorism should invest in the insurance, real estate, and the wood, paper, printing sectors as opposed to the transportation, chemical, petroleum, and plastic, and telecommunications sectors. Our results complement previous research into investment diversification strategies surrounding terrorist attacks.