The ups and downs of Wirecard AG : an application of the reversed news model

Georg Stadtmann, Carsten Croonenbroeck

In early 2019, the stock prices of the German company Wirecard AG experienced market turmoil after several critical reports on activities claimed to be illegal. To analyze the market impact of news, we use stock price data for Wirecard AG and apply the reversed news model. We elaborate on whether new information can explain subsequent changes in the stock price. We find that articles published in the Financial Times as well as investor communications were important drivers of the stock price.

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Year of publication:	[2019]
Authors:	Stadtmann, Georg ; Croonenbroeck, Carsten
Publisher:	Frankfurt (Oder) : European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics
Subject:	News Model \| Stock Market Efficiency \| Event Study \| Börsenkurs \| Share price \| Ankündigungseffekt \| Announcement effect \| Ereignisstudie \| Event study \| Theorie \| Theory \| Effizienzmarkthypothese \| Efficient market hypothesis \| Aktienmarkt \| Stock market

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Extent:	1 Online-Ressource (circa 12 Seiten) Illustrationen
Series:	Discussion papers / Europa-Universität Viadrina Frankfurt (Oder), Fakultät Wirtschaftswissenschaften. - Frankfurt, Oder : Europa-Universität Viadrina Frankfurt (Oder), ISSN 2699-9250, ZDB-ID 2202229-6. - Vol. no. 414 (October 2019)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/204840 [Handle]
Classification:	D82 - Asymmetric and Private Information ; G14 - Information and Market Efficiency; Event Studies ; G32 - Financing Policy; Capital and Ownership Structure
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012108832