“…While several studies investigated the effects of elections on stock markets (Białkowski, Gottschalk, & Wisniewski, 2008;Li & Born, 2006;Nippani & Arize, 2005;Nippani & Medlin, 2002;Pástor & Veronesi, 2013), others focused on the banking sector (Chen & Liu, 2013;Francis, Hasan, & Zhu, 2014;Önder & Özyıldırım, 2013). In general, the literature has highlighted the importance of political uncertainty and its role in generating uncertainty and reinforcing vulnerability in financial markets Guo et al, 2018;Mei et al, 2018).…”