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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | The effect of Bilateral Agreements between Switzerland and Europe on the Swiss Stock Market |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 61 |
| Date | 2021 |
| Abstract Text | This thesis studies the effects of two Swiss Referendums ”Accession of Switzerland to the European Economic Area” (6.12.1992) and ”Against Mass Immigration” (09.02.2014) on the Swiss Stock Market to understand investors’ expectations about keeping or increasing political and economic distance between Switzerland and Europe. The results of both the referendums were, according to the polls, unexpected. For the 1992 referendum, the outcome of the study suggests that keeping an independence from Europe is an advantage for Swiss companies. The results of the 2014 referendum did not have a significant impact on the Swiss stock market as whole. However, by considering SPI firms that export machine tools or in general products that need to pass a conformity test before being exported, it has been found a slight negative return compared to the market. Stock prices movements were not affected by currency fluctuations. |
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