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The Impact of Corporate News on the Dynamics of Stock Prices of Russian Companies

Student: Rasulov Ruslan

Supervisor: Alexandra Galanova

Faculty: Faculty of Economic Sciences

Educational Programme: Financial Markets and Financial Institutions (Master)

Year of Graduation: 2018

The focus of this study is the analysis of the impact of financial results publications on the dynamic of shares prices of Russian oil and gas companies in 2006-2018. The final sample of the analysis includes 7 oil and gas companies and 290 events with 218 “good" and 72 "bad" mentions of financial results. The distinguishing characteristic of this work is a comparative analysis of the impact that publications of financial results make on the dynamic of the prices before and after the financial crisis of 2008. As a result, it was found out that publications of companies financial results have an important impact on the dynamics of their share prices, as well as the recession of the market that makes investors more sensitive to "bad" news.

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