Growth ... What growth?

Tosun, Onur Kemal ORCID: https://orcid.org/0000-0003-2551-1408 and Lucey, Brian 2023. Growth ... What growth? Finance Research Letters 52 , 103594. 10.1016/j.frl.2022.103594

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Abstract

This study focuses on economic turmoil in the UK between 06September and 19October2022 consequent on a “mini budget” announced by the then Chancellor. Contrary to pre-announcement growth expectations, UK firms lost about 0.30% in daily excess returns and £0.87 million in market value. UK's “Moron Risk Premium” increased by 0.48%. Analyses with Google Search Volume Index support this devastating effect on companies. Durables, construction, manufacturing, and wholesale & retail sectors were less affected by this economic turbulence. We concluded that the announced low-tax economic policy does not always convince markets of future growth, particularly during high inflation and political instability.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Publisher:	Elsevier
ISSN:	1544-6123
Date of First Compliant Deposit:	20 December 2022
Date of Acceptance:	15 December 2022
Last Modified:	05 May 2023 22:54
URI:	https://orca.cardiff.ac.uk/id/eprint/155051

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