Tosun, Onur Kemal ![]() ![]() |
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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 |
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Date Type: | Publication |
Status: | Published |
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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