• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Anna Stepashina
The Impact of Oil Prices on the Profitableness of Oil Companies Stocks in Russia
Economics
(Bachelor’s programme)
9
2016
The present study contains an analysis of the crude oil Brent price impact on the Russian stock exchange, in particular on the stock quotes of Lukoil, Gazpromneft, Surgutneftegas, Tatneft, Rosneft companies in the period of 2002-2015, including analysis of subperiods. Stock indexes for Russia (RTS) and the USA (S&P500), exchange rate ruble-US dollar are also included in the model. A literature review on the proposed research question and theoretical background description are provided. In the paper, the following econometric tools are used: augmented Dickey-Fuller test, Johansen cointegration test, vector auto regression (VAR) and vector error correction models (VECM). Additionally, an analysis of periods before and after the 2008 economic crises is conducted. Authors make some conclusions concerning the force of the crude oil prices impact on stock prices of oil companies in Russia. The main result of the study is that the influence of the prices of crude oil on stock quotes is statistically significant for all the companies, except Rosneft. In the case of stock quotes of Rosneft an anomalous behavior and independence from other variables of the model are revealed.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses