تاثير ريسك سياسي بر نوسان بازدهي سهام در ايران‌

The Impact of Political Risk on Stock Return Volatility in Iran

Previous research shows that political risk as one of the risk source might have a considerable effect on stock returns. This paper focuses on Iran as a country that in recent periods has experienced a number of diverse political events and happenings. The paper is an attempt to capture the effect of political risk on stock return volatility as evidenced by Iran. The paperʹs findings indicate that political risk has significantly affected stock returns in Iran during the 1379-1384 period. However, the reaction of stock returns to positive and negative political news and events was asymmetrical. The conclusions can be used to manage political risk and stock market transactions