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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Vladislav Shvyakov
Impact of Presentations of High-Tech Companies on Stock Prices
Finance
(Master’s programme)
7
2019
This paper is devoted to event study analysis of high-tech companies presentations impact on the stock prices of the companies. First of all, there is a review on a previous research devoted to event study methodology and some innovation announcements research. This research is based on the sample of 49 presentations held by main technological market leaders and on the sample of 12 fully new products presentations. This paper tests two hypothesis, the first is whether stock prices of the companies react positively to the presentations and whether new products have greater effect on the stock prices than the presentations related to the update of already existing flagship product of the company. The results show positive cumulative abnormal returns for all presentations and are significant at 99% level for event windows from -1 day to 3 days after event and longer. This study can be useful for private investors, or other market participants, according to the results of this research they can overperform market returns. In the end there are some recommendations for further development of this topic.

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