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Event study methodology in politics - a systematic literature review

Dorina Kiss

Prague Economic Papers2025https://doi.org/10.18267/j.pep.899article
ABDC C
Weight
0.50

What the paper says

This paper presents the first systematic literature review of event study methodology applied to political events. Following PRISMA guidelines, 133 studies (1997-2024) were analysed to uncover methodological patterns. The findings show that nearly three-quarters of the papers rely on a single expected return model. The market model accounts for close to one-half of all identified model specifications, indicating its simplicity and practical applicability. Symmetric event windows, mainly shorter configurations like (-1, +1) are preferred; most of the studies test multiple lengths. Estimation periods vary (5-300 trading days), though many papers offer little validation for their choices. The review highlights methodological patterns and gaps: reliance on simple models, short symmetric windows, and inconsistent reporting. As a response, it proposes a best-practice framework to support transparency, comparability, and theoretical integration to advance methodology in this domain.

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https://doi.org/https://doi.org/10.18267/j.pep.899

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@article{dorina2025,
  title        = {{Event study methodology in politics - a systematic literature review}},
  author       = {Dorina Kiss},
  journal      = {Prague Economic Papers},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.18267/j.pep.899},
}

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Event study methodology in politics - a systematic literature review

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.