Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/106638
Authors: 
Hoffmann, Manuel
Neuenkirch, Matthias
Year of Publication: 
2015
Series/Report no.: 
Research Papers in Economics 1/15
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.
Subjects: 
Conflict-Related News
Pro-Russian Conflict
Russia
Sanctions
Stock Returns
Ukraine
JEL: 
F30
G12
G14
G15
Document Type: 
Working Paper

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