Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method
This study attempts to find out how important socio-religious events affect financial markets, with particular emphasis on the Ram Mandir event in India. This study uses the Event Study Method to analyse how the inauguration of the Ram Mandir, a historic event with great cultural, religious and poli...
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| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2025-12-01
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| Series: | Journal of Applied Economics |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/15140326.2025.2472584 |
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| author | Richa Goel Anindita Bhattacharjee Neeru Sidana Tilottama Singh Manleenjot Kaur |
| author_facet | Richa Goel Anindita Bhattacharjee Neeru Sidana Tilottama Singh Manleenjot Kaur |
| author_sort | Richa Goel |
| collection | DOAJ |
| description | This study attempts to find out how important socio-religious events affect financial markets, with particular emphasis on the Ram Mandir event in India. This study uses the Event Study Method to analyse how the inauguration of the Ram Mandir, a historic event with great cultural, religious and political importance, affected the Indian stock market. This study gauges the response of the Indian stock market to the Ram Mandir event using the Market Model with a robust empirical framework. The results of the study indicate that the Ram Mandir event influenced investors behaviour and mood of the market causing significant changes in stock market. Furthermore clarified by the study are the duration and intensity of market reactions throughout various event timeframes. The insight gained from this study will be very helpful to investors, financial analysts, and policymakers interpreting the consequences of socio-religious events on financial markets. |
| format | Article |
| id | doaj-art-e977ee418f9e4244b77d95691673c8c5 |
| institution | OA Journals |
| issn | 1514-0326 1667-6726 |
| language | English |
| publishDate | 2025-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Journal of Applied Economics |
| spelling | doaj-art-e977ee418f9e4244b77d95691673c8c52025-08-20T02:38:11ZengTaylor & Francis GroupJournal of Applied Economics1514-03261667-67262025-12-0128110.1080/15140326.2025.2472584Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study methodRicha Goel0Anindita Bhattacharjee1Neeru Sidana2Tilottama Singh3Manleenjot Kaur4Symbiosis Centre for Management Studies, Noida, IndiaSymbiosis Centre for Management Studies, Noida, IndiaAmity School of Economics, Amity University, Noida, IndiaUttaranchal Institute of Management, Uttaranchal University, Dehradun, IndiaUttaranchal Institute of Management, Uttaranchal University, Dehradun, IndiaThis study attempts to find out how important socio-religious events affect financial markets, with particular emphasis on the Ram Mandir event in India. This study uses the Event Study Method to analyse how the inauguration of the Ram Mandir, a historic event with great cultural, religious and political importance, affected the Indian stock market. This study gauges the response of the Indian stock market to the Ram Mandir event using the Market Model with a robust empirical framework. The results of the study indicate that the Ram Mandir event influenced investors behaviour and mood of the market causing significant changes in stock market. Furthermore clarified by the study are the duration and intensity of market reactions throughout various event timeframes. The insight gained from this study will be very helpful to investors, financial analysts, and policymakers interpreting the consequences of socio-religious events on financial markets.https://www.tandfonline.com/doi/10.1080/15140326.2025.2472584Ram MandirIndian stock marketevent study methodinvestor sentimentreligiosity |
| spellingShingle | Richa Goel Anindita Bhattacharjee Neeru Sidana Tilottama Singh Manleenjot Kaur Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method Journal of Applied Economics Ram Mandir Indian stock market event study method investor sentiment religiosity |
| title | Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method |
| title_full | Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method |
| title_fullStr | Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method |
| title_full_unstemmed | Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method |
| title_short | Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method |
| title_sort | market devotion understanding the ram mandir event influence on the indian stock market using event study method |
| topic | Ram Mandir Indian stock market event study method investor sentiment religiosity |
| url | https://www.tandfonline.com/doi/10.1080/15140326.2025.2472584 |
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