The Effect of Sanctions on the Financial Performance of Russian Companies

Student: Dzhaneryan Karlos

Supervisor: Carsten Sprenger

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2016

There exist a number of papers, which analyze the macroeconomic and sectorial consequences of the economic sanctions imposition against Russia. This work tests the existence of effect of the sanctions announcements on the stock returns of the companies as well as on the Russian stock market as a whole. I will demonstrate that even though the economic sanctions negatively affected the Russian stock market as whole, investors doubt that companies under the economic sanctions experienced a worse effect than the companies without sanctions did.

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