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The Pro-Russian Conflict and its Impact on Stock Returns in Russia and the Ukraine

Manuel Hoffmann and Matthias Neuenkirch ()

No 2015-01, Research Papers in Economics from University of Trier, Department of Economics

Abstract: 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.

Keywords: Conflict-Related News; Pro-Russian Conflict; Russia; Sanctions; Stock Returns; Ukraine (search for similar items in EconPapers)
JEL-codes: F30 G12 G14 G15 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2015
New Economics Papers: this item is included in nep-cis and nep-tra
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http://www.uni-trier.de/fileadmin/fb4/prof/VWL/EWF/Research_Papers/2015-01.pdf First version, 2015 (application/pdf)

Related works:
Journal Article: The pro-Russian conflict and its impact on stock returns in Russia and the Ukraine (2017) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:trr:wpaper:201501

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