| Acknowledgement | 第6-7页 |
| ABSTRACT | 第7-9页 |
| 摘要 | 第10-18页 |
| Chapter 1: Introduction | 第18-35页 |
| 1.1 Background of the study | 第20-30页 |
| 1.1.1 Financial disruption after 9/11 Terrorist attack | 第21-23页 |
| 1.1.2 Effect on International stock market | 第23-26页 |
| 1.1.3 Effect on Pakistan stock market | 第26-28页 |
| 1.1.4 Terrorism effect on Investors' sentiment | 第28-30页 |
| 1.2 Problem statement | 第30页 |
| 1.3 Objectives of the study | 第30-31页 |
| 1.4 Significance of the study | 第31-32页 |
| 1.5 Innovative point of the study | 第32-33页 |
| 1.6 Structure of the study | 第33-35页 |
| Chapter 2: Terrorism, Pakistan Economy and Stock Market | 第35-59页 |
| 2.1 Historical background of terrorism in Pakistan | 第35-40页 |
| 2.1.1 Terrorism and conflicts | 第39-40页 |
| 2.2 Security situation in Pakistan | 第40-43页 |
| 2.3 Pakistan's Economy | 第43-48页 |
| 2.3.1 Sector wise performance in Pakistan | 第44-45页 |
| 2.3.2 Social welfare support | 第45-46页 |
| 2.3.3 Health and Education | 第46-47页 |
| 2.3.4 Import and Export | 第47-48页 |
| 2.4 Pakistan stock market | 第48-54页 |
| 2.4.1 Stock market performance | 第49-51页 |
| 2.4.2 Sector wise analysis | 第51-54页 |
| 2.5 Terrorism and Pakistan economic and market activity | 第54-59页 |
| Chapter 3: Literature Review and Hypothesis Development | 第59-74页 |
| 3.1 Terrorism and stock market returns | 第59-62页 |
| 3.2 Major terrorist attacks and stock market returns | 第62-64页 |
| 3.3 Terrorism and Industries stock returns | 第64-67页 |
| 3.4 Terrorism and investors' sentiment | 第67-70页 |
| 3.5 Summary of Literature review | 第70-72页 |
| 3.6 Integrated conceptual framework | 第72-74页 |
| Chapter 4: Research Methodology | 第74-93页 |
| 4.1 Sample period and Dataset | 第74-75页 |
| 4.2 Measuring Market/Industry/Stock returns | 第75-80页 |
| 4.2.1 Measures of Abnormal Returns (AR) | 第76-78页 |
| 4.2.2 Measures of Cumulative Abnormal Return (CAR) | 第78-80页 |
| 4.3 Measuring Terrorism | 第80-84页 |
| 4.3.1 Individual measures of terrorism intensity/magnitude | 第81-82页 |
| 4.3.2 Terrorism Factor | 第82-84页 |
| 4.4 Modelling terrorism and market returns | 第84-86页 |
| 4.5 Event study analysis of terrorism and market returns | 第86-91页 |
| 4.5.1 Event selection criterion | 第86-87页 |
| 4.5.2 Brief introduction of selected events | 第87-89页 |
| 4.5.3 Event-study empirical design | 第89-91页 |
| 4.6 Terrorism and investor's sentiment | 第91-93页 |
| Chapter 5: Empirical Results and Discussions | 第93-140页 |
| 5.1 Descriptive statistics, stationarity, and correlation analyses | 第93-97页 |
| 5.2 Terrorism and market returns | 第97-103页 |
| 5.3 Market's response to major terrorist incidents | 第103-133页 |
| 5.3.1 The Assassination of Benazir Bhutto | 第104-111页 |
| 5.3.2 Terrorists' attack on Pakistan Ordnance Factory | 第111-118页 |
| 5.3.3 Terrorists' attack on All Saints Church | 第118-124页 |
| 5.3.4 Terrorists' attack on Army Public School | 第124-131页 |
| 5.3.5 Cumulative analyses of all four events | 第131-133页 |
| 5.4 Terrorist attacks and investors' sentiments | 第133-140页 |
| 5.4.1 Benazir's Assassination | 第133-135页 |
| 5.4.2 Pakistan Ordinance Factory | 第135-136页 |
| 5.4.3 All Saints Church Peshawar | 第136-137页 |
| 5.4.4 Army Public School incident | 第137-140页 |
| Chapter 6: Conclusions | 第140-146页 |
| 6.1 Concluding remarks | 第140-142页 |
| 6.2 Policy implications | 第142-143页 |
| 6.3 Limitations | 第143-144页 |
| 6.4 Future work | 第144-146页 |
| List of Online Publications and International Conference | 第146-147页 |
| References | 第147-158页 |
