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The Impact of News on Company's Stock Price

ФИО студента: Orlova Anna

Руководитель: Alexandra Galanova

Кампус/факультет: Faculty of Economic Sciences

Программа: Economics (Bachelor)

Год защиты: 2019

This study contributes to ongoing debates about the countable impact of various events on the stock market performance. It is focused on the investigation of quantitative effects of news about fundamental macroeconomic variables such as bank rate and oil price on the stock prices of the Russian public companies during the period 2013-2019. In order to achieve it, the literature review of the relevant researches has been conducted. The key methods of this paper are based on event-study analyses. It provides the exploration of the relationship between news announcements about changes in the key rate of the Bank of Russia and results of the OPEC meetings and changes in the abnormal returns on the short-term event windows of 3 types: 3, 7 and 15 days. The final outcomes confirm the statistical significance of news about the key rate for the stock returns of Russian banks and deny the statistical significance of news about OPEC decisions for stock performance of Russian oil companies.

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