Volume III Issue II 2023 http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4437 AJMS Tue, 21 Apr 2026 05:34:36 GMT 2026-04-21T05:34:36Z Volume III Issue II 2023 http://repo:8080/xmlui/bitstream/id/3cbb55f8-98ea-4446-8a49-1f5940e81dbb/ http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4437 Editorial board http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4443 Editorial board AJMS, 2023 Thu, 29 Feb 2024 00:00:00 GMT http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4443 2024-02-29T00:00:00Z Editorial Note http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4442 Editorial Note Aslam, MSM Thu, 29 Feb 2024 00:00:00 GMT http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4442 2024-02-29T00:00:00Z Table of contents http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4441 Table of contents AJMS, 2023 Thu, 29 Feb 2024 00:00:00 GMT http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4441 2024-02-29T00:00:00Z Effect of Structural Breaks on Stock Market Performance during COVID-19 Period in Sri Lanka http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4440 Effect of Structural Breaks on Stock Market Performance during COVID-19 Period in Sri Lanka Walakumbura, SHML; Weerasinghe, WMSP; Peiris, TUI This study investigates the effects of structural breaks on the Colombo Stock Exchange (CSE) performance over the COVID-19 period. Stock market returns and volatility are used to proxy the stock market performance. Structural breaks were identified by using the Bai-Perron (2003) test. An ARMA (p,q) model fitted for stock returns was augmented using dummy variables for the structural breaks to measure the effect of structural breaks on stock market returns. The model was further extended as a volatility regression model (GARCH, EGARCH, or TGARCH) to measure the effect of structural breaks on stock market volatility. The results confirmed the presence of structural breaks following COVID-19-related news in CSE. Seventeen such breaks were identified. However, only three significantly influenced the stock market returns and the volatility. As a result, the study's consequences affect stockbrokers, multinational organizations, portfolio managers, and investors, allowing them to foresee market patterns and take preventative action in the event of structural breaks. Article history: Received: 10 October 2023 Accepted: 24 December 2023 Published: 29 February 2024 E-mail Address: ushan@mgt.sab.ac.lk Thu, 29 Feb 2024 00:00:00 GMT http://repo.lib.sab.ac.lk:8080/xmlui/handle/susl/4440 2024-02-29T00:00:00Z