The impact of Brexit on Spanish firms: evidence from the IBEX 35

Abstract

To briefly summarize what the following project is about, we have investigated the causes and consequences of Brexit and we have related them to the companies with the greatest Spanish media coverage in relation to this topic. We have made an empirical analysis about these, through the calculation of returns, risk and volatilities, focusing especially on the period in which David Cameron announced that if he won the 2015 elections he would call a referendum, in Cameron's triumph in these, and in the referendum period. We have also analyzed whether over the years they have recovered their initial stock values.