The pro-Russian conflict and its impact on stock returns in Russia and the Ukraine

Manuel Hoffmann and Matthias Neuenkirch

We analyze the impact of the pro-Russian conflict on stock returns in Russia and the Ukraine during the period November 21, 2013 to September 29, 2014. We utilize a newly created indicator for the degree of (de-)escalation based on an Internet search for conflict-related news. We find that intensification of the conflict reduces Russian and Ukrainian stock returns. The (de-)escalation of the pro-Russian conflict in the Ukraine accounts for a total variation of 6.5 (8.7) percentage points in the Russian (Ukrainian) stock market.

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Year of publication:	2015 ; This version: 6 January 2015
Authors:	Hoffmann, Manuel ; Neuenkirch, Matthias
Publisher:	Trier : Univ.
Subject:	Conflict-Related News \| Pro-Russian Conflict \| Russia \| Sanctions \| Stock Returns \| Ukraine \| Russland \| Kapitaleinkommen \| Capital income \| Sanktion \| Sanction \| Börsenkurs \| Share price \| Kriegsfolgen \| Consequences of war

Extent:	Online-Ressource (9 S.) graph. Darst.
Series:	Research papers in economics. - Trier : [Verlag nicht ermittelbar], ZDB-ID 2747383-1. - Vol. 1/15
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/106638 [Handle]
Classification:	F30 - International Finance. General ; G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies ; G15 - International Financial Markets
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010459026