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

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, Department of Business Administration and Economics
Subject:	News Model \| Stock Market Efficiency \| Event Study

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Series:	Discussion Paper ; 414
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1678936820 [GVK] hdl:10419/204840 [Handle] RePEc:zbw:euvwdp:414 [RePEc]
Classification:	D82 - Asymmetric and Private Information ; G14 - Information and Market Efficiency; Event Studies ; G32 - Financing Policy; Capital and Ownership Structure
Source:	EconStor

Persistent link: https://www.econbiz.de/10012111603