Mining Stock Price Reactions Before and After the Russia - Ukraine Conflict Events

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Article Type:
Research/Original Article (بدون رتبه معتبر)
Abstract:
This research aims to observe how the Indonesian capital market reacts, especially in the mining sector, to the export ban resulting from the Russian invasion of Ukraine, particularly on coal exports. This study uses the event study method by collecting closing stock price data 5 days before and 5 days after the Russian invasion of Ukraine which occurred on February 24, 2022. This research indicates that the Russian invasion of Ukraine had a significant impact on the market, as evidenced by the disparities in average abnormal returns before and after the events, as well as the fluctuations in stock prices and substantial abnormal returns when comparing the days surrounding the events. The theories employed in this study include the Efficient Market Hypothesis and Signal Theory. This study only uses mining company as a sample and abnormal returns and stock prices as variables. This research does not only look at the average difference before and after the Russian invasion of Ukraine. But also compare the difference in stock prices and abnormal returns between each day before and after the event. The results of the research conducted are in line with previous research conducted by Theiri et al., (2022).
Language:
English
Published:
International Journal of Management, Accounting and Economics, Volume:11 Issue: 4, Apr 2024
Pages:
481 to 490
https://magiran.com/p2720265  
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