정국 불안이 주식시장에 미치는 영향: 금융업을 중심으로

This study examines the impact of major political events, particularly presidential impeachment proceedings, on the financial sector. Given its close ties to government policies and economic variables, the financial sector is highly sensitive to political uncertainty, which can trigger short-term market shocks and structural changes. Using the event study methodology, this study analyzes the impact of major political events on the financial sector stock market. It employs both cross-sectional and individual stock time-series tests to assess the statistical significance of each political event date on the financial market. Additionally, a GLS model-based regression analysis is conducted to precisely evaluate how firm size, liquidity, and other financial sector-specific factors influence the impact of political events. Findings indicate that while political events cause immediate volatility, markets gradually stabilize as investors adjust expectations. This study offers practical insights for financial policy formulation and investment strategy development, contributing to a clearer understanding of the structural impact of political uncertainty on financial markets.