The Differential Impact of Brexit on Banking: UK vs. Europe

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URI: http://hdl.handle.net/10902/20172
ISSN: 1758-5880
ISSN: 1758-5899
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Autoría
Vázquez Ordás, Camilo J.; García Olalla, MyriamAutoridad Unican
Fecha
2020
Derechos
© Durham University and John Wiley & Sons. This is the peer reviewed version of the following article: Vázquez?Ordás, Camilo J., y Myriam García Olalla. «The Differential Impact of Brexit on Banking: UK vs. Europe». Global Policy, vol. 11, n.o 5, 2020, pp. 569-77, which has been published in final form at https://doi.org/10.1111/1758-5899.12879. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.
Publicado en
Global Policy Volume 11 . Issue 5 . November 2020
Editorial
Wiley-Blackwell
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Palabras clave
Brexit
Event study
Banking
Market reaction
Abnormal returns
Resumen/Abstract
ABSTRACT: The objective of this study is to analyse the differential impact that the main events in the implementation of Brexit have had on the European-banking sector, and attempt to identify whether said impact has been different for UK and European banks. To do this, we selected a sample of UK banks listed on the stock exchange and a control group composed of banks belonging to European countries of a similar size to the UK banks. We used event study methodology to determine the impact, which was measured by the market reaction. The obtained results allow us to state that UK banks reacted differently from European banks in response to the same events that have defined the path of Brexit, and generally more negatively.
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