The impact of the Russia–Ukraine crisis on oil and gas shares: an event study approach

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dc.authorid0000-0001-7959-1242en_US
dc.authorid0000-0002-7097-5423en_US
dc.authorid0000-0002-0739-2196en_US
dc.contributor.authorKüçükçolak, Recep Ali
dc.contributor.authorKüçükçolak, Necla İlter
dc.contributor.authorKüçükoğlu, Sami
dc.date.accessioned2024-01-23T08:45:28Z
dc.date.available2024-01-23T08:45:28Z
dc.date.issued2024en_US
dc.departmentFakülteler, İşletme Fakültesi, İşletme Bölümüen_US
dc.description.abstractIn this study, the efect of the Russia–Ukraine crisis on the energy companies traded in the stock exhanges of European and Asian countries which import oil and natural gas from Russia as well as Russia’s strategic rival USA, is examined by event study method. The sample used in the research consists of the stock market data of 10 countries which are labeled as the “Oil and Gas Producers” via DataStream. The data in question consist of the stocks and major index values of 34 active energy companies, which are traded in the stock exchanges of the countries subject to the study and are among the top 5 companies with the largest market capitalization. As a result of the analysis made on the basis of each country, the shock of the tension between Russia and Ukraine turning into a hot confict during the frst event window period, caused an extreme reaction in the European and Asian stock markets, which was discussed in the study and positive abnormal returns emerged. However, the energy companies in the US stock market remained far from the environment of fear and anxiety and preserved their market activities. In the second event window period, because of Russia’s pre-announcement of natural gas sales in rubles, the stocks in the study quickly adapted this information, which was shared with the public. It was refected to their prices and the efciency of their markets was ensured.en_US
dc.identifier.doi10.1007/s42495-023-00129-5en_US
dc.identifier.scopus2-s2.0-85182483575en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://hdl.handle.net/11467/7121
dc.identifier.urihttps://doi.org/10.1007/s42495-023-00129-5
dc.identifier.wosWOS:001142144100001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherSpringeren_US
dc.relation.ispartofInternational Journal of Economic Policy Studiesen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/embargoedAccessen_US
dc.subjectRussia, Ukraine crisis, Abnormal return, Event study, Oil and gas, Stock marketen_US
dc.titleThe impact of the Russia–Ukraine crisis on oil and gas shares: an event study approachen_US
dc.typeArticleen_US

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