The Effect of Announcement About Changing the Characteristics of Banking Saving Vehicles: The Case of the Egyptian Exchange

Abstract

This paper aims at investigating the effect of the announcement of changing the characteristics of banking saving vehicles on the performance of the stock market. This has been conducted using the "event study" methodology during the period from 2007 to 2016, as applied on the Egyptian Exchange.

Results show that there are significant differences between abnormal returns before the announcement about changing the characteristics of banking saving vehicles compared with those of after announcement. Besides, findings don’t support any significant differences between abnormal trading volumes due to these announcements.

Keywords: Abnormal Returns, Abnormal Trading Volumes, Banking Saving Vehicles, Event Study, the Egyptian Exchange