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The Impact of Natural and Industrial Disasters on the Russian Stock Market

Student: Valiaeva Anna

Supervisor: Evgenia Mikova

Faculty: Faculty of Economic Sciences

Educational Programme: Economics (Bachelor)

Final Grade: 8

Year of Graduation: 2020

Studies have shown that natural disasters can have a significant impact on stock prices of the foreign firms. The purpose of this study is to determine the relationship between these events and the Russian stock market. The professional significance of the work lies in the fact that no such study has been previously conducted in Russia. By natural disasters we mean disasters created by nature, whilst man-made disasters are caused by human activities. As a method for studying the reaction of the stock market, we have selected an event study method and regression analysis. Data was collected on 93 major Russian and foreign disasters that occurred from 2007 to 2020, as well as stock prices of 18 firms from top-50 capitalization rating that took part in industrial disasters, MOEX index and sector indices. A detailed analysis was also carried out by industry and type of disaster. Results have shown a negative effect of both industrial and natural disasters.

Full text (added May 14, 2020)

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