An Influence of Surprises on the Perception of Corporate Information Russian Stock Market

Student: Lomparter Elena

Supervisor: Sergey M. Menshikov

Educational Programme: Financial Markets and Financial Institutions (Master)

Year of Graduation: 2018

In this paper we investigate the problem of anomalies appearing in the reaction of investors to published financial statements. Such a reaction is expressed in too strong or too weak changes in market prices, which cannot be explained by standard economic theory. The anomalies can be explained by certain concepts of the behavioral finance. On their basis we determined a number of patterns in the dynamics of real quotes of Russian companies.

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