미국의 정치적 충격이 한국 기업의 단기 주가변동에 미치는 영향에 관한 연구: 2024년 트럼프 대선후보 암살미수 사건을 중심으로 = The Impact of US Political Uncertainty in Korean Firms’ Short-term Stock Price: Evidence from the 2024 Trump Assassination Attempt

다국어 초록 (Multilingual Abstract)

Our study analyze the impact of changes in the U.S. political uncertainty on Korean listed firms’ short-term stock price, focusing on the assassination attempt on Donald Trump, the Republican presidential candidate, that occurred on July 13, 2024. Using event study method, we examines 664 cases of companies listed on the KOSPI market through univariate analysis and multiple regression analysis to identify the determinants of Cumulative Abnormal Returns (CARs) and Buy-and-Hold Abnormal Returns (BHARs).
Our empirical results are as follows: an industry-level analysis world input-output tables revealed that firms belonging to industries with higher linkages to the U.S. and China were more negatively affected, We measure foreign dependency through the export ratio (%) of sales and company history analysis, finding that firms with higher export ratios are more severely affected. Our study suggest that dramatic political shifts in the U.S., such as an assassination attempt, affects on Korean firms’ performance, with implications for understanding the influences at both the industry and firm levels, as well as policy differences.