The effect of oil price changes on the price of Russian and Chinese oil shares

Hall, Stephen G.; Kenjegaliev, Amangeldi

doi:10.1007/s00181-016-1176-3

Cited by 9 publications

(10 citation statements)

References 22 publications

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“…There can be varying degrees of impact depending upon the geographic region of the sample. For example, Hall and Kenjegaliev (2017) find that while oil price changes affect stock prices of American and European oil companies as expected, the most atypical behavior is observed for equities of Chinese and Russian companies.…”

Section: Introductionsupporting

confidence: 52%

The Influence of Oil Prices on Equity Returns of Canadian Energy Firms

Batabyal

Killins

2021

JRFM

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Using monthly data from January 2000 to August 2018, this paper examines how the Canadian oil and gas industry and individual firms’ equity prices react to oil price fluctuations, which are measured by the traditional West Texas Intermediate (WTI) benchmark and the Canada-specific Western Canadian Select (WCS) benchmark. The findings provide support for the view that oil price movements are an important factor in explaining the equity returns of the overall industry and for many individual oil and gas firms in Canada. Both WTI and WCS measures provide statistically significant evidence, but the results support that WTI may still be the more relevant measure for Canadian-based firms. We also find that the spread between WTI and WCS has a minimal impact on the firms’ equity returns. Additional tests for asymmetric impacts of oil price movements on Canadian oil and gas equity returns have provided little evidence, whereas time-varying impacts are found for a handful of firms. The empirical findings predicated on the holistic view of the impacts of oil price fluctuations on equity market returns will enhance investor confidence and strengthen the Canadian economy.

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Section: Introductionsupporting

confidence: 52%

The Influence of Oil Prices on Equity Returns of Canadian Energy Firms

Batabyal

Killins

2021

JRFM

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“…Depending on the type of information, announcements increase or decrease the value of stocks on the market. Quintessentially, it involves estimating the direction and size of the abnormal return attributable to unanticipated information, see further Pham (2015), Chi and Tang (2008), Hall and Kenjegaliev (2009), Campbell et al (1997), McWilliams and Siegel (1997), Corrado and Zivney (1992), Corrado (1989), Ball and Tourus (1988), Warner (1980, 1985) and Dyckman et al (1984). In this paper an event date is upgrade or downgrade announcement made by three rating agencies.…”

Section: Methodsmentioning

confidence: 99%

Do rating grades convey important information: German evidence?

2016

Self Cite

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In this paper we investigate the impact of credit rating changes on German stock market. We evaluate daily abnormal stock returns of companies listed on the Frankfurt Stock Exchange (HDAX). Rating upgrades and downgrades are made by three rating agencies: Moody's, Standard and Poor's, and Fitch Ratings. We find that rating announcements are largely anticipated, i.e. German market adjusts stock prices long before the rating changes have been made. Additionally, we report that the market, along with anticipating the rating change, reacts stronger to downgrades compared to upgrades.

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“…Studi peristiwa (event study) merupakan studi yang mempelajari reaksi pasar terhadap suatu peristiwa (event) yang informasinya dipublikasikan sebagai suatu pengumuman (Hartono, 2015:624). Event study melibatkan estimasi return normal untuk keamanan dan menghitung arah dan ukuran kelebihan return yang diakibatkan oleh informasi yang tidak diantisipasi (Hall & Kenjegaliev, 2016). Gul et al (2013) (Hidayat, 2012).…”

Section: Gambar 1 Grafik Indeks Harga Saham Gabungan Januari 2015 -Munclassified

Reaksi Investor Dalam Pasar Modal Terhadap Penerbitan Perppu No. 1 Tahun 2017”

Anggariani

Suaryana

2018

E-Jurnal Akuntansi

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Perppu Nomor 1 Tahun 2017 merupakan salah satu informasi yang dapat digunakan untuk menganalisis reaksi pasar. Tujuan penelitian ini untuk membuktikan secara empiris terdapatnya abnormal return dan trading volume activity yang signifikan di sekitar penerbitan Perppu Nomor 1 Tahun 2017. Penelitian ini adalah penelitian event study. Sampel yang digunakan adalah 42 perusahaan perbankan yang terdaftar di BEI dengan metode purposive sampling. Alat analisis yang digunakan adalah uji one sample t-test. Hasil penelitian menunjukkan bahwa terdapat abnormal return yang signifikan pada t-1 dan t+2, kemudian trading volume activity yang signifikan pada t-2, t-1, t0, t+1, t+2. Kedepannya investor agar lebih mempertimbangkan informasi dari Perppu Nomor 1 Tahun 2017 pada saat penerapannya dilakukan di tahun 2018 untuk mengambil keputusan investasi agar memperoleh keuntungan.

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The effect of oil price changes on the price of Russian and Chinese oil shares

Cited by 9 publications

References 22 publications

The Influence of Oil Prices on Equity Returns of Canadian Energy Firms

The Influence of Oil Prices on Equity Returns of Canadian Energy Firms

Do rating grades convey important information: German evidence?

Reaksi Investor Dalam Pasar Modal Terhadap Penerbitan Perppu No. 1 Tahun 2017”

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