The Sectoral Effects of Value-Added Tax: Evidence from UAE Stock Markets
نویسندگان
چکیده
This paper investigates the impact of 19 announcements pertaining to introduction value-added tax (VAT) in United Arab Emirates (UAE) on equities listed Abu Dhabi Stock Exchange (ADX). Using a well-established event study methodology over period 2015 2018, sector-wise assessment value constructiveness or destructiveness these is conducted. In addition, an estimation changes systematic risk following provided. Significant sectoral differences abnormal returns are observed with industries such as insurance and retail showing higher sensitivity. Certain identified exerting more than others. The results document outcome implementation VAT provide guidance other countries Gulf region that plan introduce VAT.
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ژورنال
عنوان ژورنال: Journal of risk and financial management
سال: 2022
ISSN: ['1911-8074', '1911-8066']
DOI: https://doi.org/10.3390/jrfm15100429