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Impact of SNB Decision to Unpeg the Franc from Euro on Financial Markets: Event Study Approach
2016
ACTA UNIVERSITATIS DANUBIUS
unpublished
Preserved Fulltext
The aim of this paper is to study the impact of Swiss National Bank (SNB) decision to unpeg the franc from euro, which was taken on 15th January, 2015, on main financial markets around the word. Our results shows that the stocks market reacted significantly in the event day (except stock market from Asia & Australia), when was recorded a significant decrease of 0.33% in the average return. Moreover, it seems that after 4 days there was recorded the highest significant decrease of global market return of 1.3%.
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