Influence of Imposing Sanctions Against Russia on Russian Companies’ Share Prices

Student: Novikova Anastasiia

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Economics (Bachelor)

Final Grade: 9

Year of Graduation: 2017

The current research analyzes the influence of political events on the Russian stock market. I study the influence of the imposing economic sanctions against the Russian Federation because of the events in Ukraine on share prices of Russian companies. For the study, the database has been collected, including share prices 42 Russian companies for the period from 1 July 2013 to 31 December 2016. The event study methodology was used in the research. The abnormal return was found in two ways: using a market model and a constant average return model. The estimation period was 170 days and the event window was 5 days. The hypothesis about the negative impact was confirmed. I get confirmation of significant impact of sanctions' news on stock prices of Russian companies.

Full text (added May 18, 2017)

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