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Factors Affecting the Stock Price Dynamics of Companies in the Construction Industry

Student: Sidorova Anna

Supervisor: Alexandra Galanova

Faculty: Faculty of Economic Sciences

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

This research work is aimed at studying and identifying the most influential factors that can affect the dynamics of share prices of Russian construction companies. To achieve this goal, data was collected on key public companies in the construction sector in Russia for 2014-2018. The components of the econometric model were: stock prices (close), microeconomic parameters (from internal quarterly reporting), as well as macroeconomic and industry variables reflecting the characteristics of the construction sector in Russia. The use of econometric tools for the analysis of panel data allowed to choose a reasonable structure of the model in favor of model with fixed effects. Thus, this model revealed significant factors, which included intra-firm indicators and a number of macroeconomic parameters (industrial production index, M2, the level of real disposable income, inflation) that have a positive impact on the dynamics of share prices.

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