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

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journal contribution
posted on 2016-10-27, 11:00 authored by Stephen G. Hall, Amangeldi Kenjegaliev
Do changes in oil prices have an effect on stocks of oil companies in emerging markets? Do the shares of oil companies in emerging markets react to the price news in a similar way as those of the Western companies? This paper aims to answer these questions utilizing event study techniques. As expected, the results of both parametric and nonparametric tests suggest that the fluctuations in oil prices have an effect on the stock prices. However, an interesting result is that the responses of stocks of Chinese and Russian oil companies are considerably different from the shares of their Western counterparts.

History

Citation

Empirical Economics, 2016, in press

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/Department of Economics

Version

  • VoR (Version of Record)

Published in

Empirical Economics

Publisher

Springer Verlag

issn

0377-7332

eissn

1435-8921

Acceptance date

2016-08-01

Copyright date

2016

Available date

2016-10-27

Publisher version

http://link.springer.com/article/10.1007/s00181-016-1176-3

Language

en

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