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  • The Impact of Corporate Events the Companies' Stock Price: Empirical Research of Oil and Gas Industry and Retail

Educational Programme
Final Grade
Year of Graduation
Oxana Shevyakina
The Impact of Corporate Events the Companies' Stock Price: Empirical Research of Oil and Gas Industry and Retail
(Master’s programme)
This work represents the analysis of corporate events on stock prices of publicly traded companies in Oil and Gas industry, Retail. Sample (announcement of M&A deal) consists of 165 transactions, 35 – publication of finance report. General sample of retail – 57 and 30 – respectively.

The first part of this paper consist of influence of announcement of M&A deal on a stock price. Using an event analysis method, it was revealed that majority of hypotheses of rather positive market reaction on announcements in Oil and Gas industry is confirmed, except for Downstream-sector or sector on conversion.

The retail sector demonstrated the following results: the results were divided according to the windows in question: in the long time window the results are not significant, in the shorter periods they are significant anyway.

The construction of a model for factor analysis of the effect on the Abnormal Announcement Return of the acquirer has shown that the CAR is declining when announcing an increase in the Final Share of Acquisition at the Completion of the Transaction and "Indicator of the Company's Market Capitalization, there is a positive relationship between The amount of excess accumulated profitability and EBIT of the target company.

In the third part of practice about impact of publication of annual financial statements on company stock prices, both sectors showed similar results. This event leads to the creation of the company's value. Such a result can be explained by the fact that, albeit in different sizes and in different dimensions, but these two sectors are currently adapting to the environment, due to which they are forced to change their habitual scheme of functioning. Both industries successfully cope with this task. Thanks to this, investors perceive the shares of these enterprises as a reliable source of revenue.

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