A Sectoral Review of the Nordic Stock Markets' Reaction to Events Associated with Brexit

Abstract: This study provides a review of the sectoral reactions in the stock markets of the three Nordic member states of the EU to the announcement of the Brexit referendum and the subsequent events associated with Brexit on a country-by-country basis by employing an event study methodology. The results show that Brexit has varying effects across sectors and that the financials sector was the most negatively affected in all three markets.