Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/204840
Authors: 
Stadtmann, Georg
Croonenbroeck, Carsten
Year of Publication: 
2019
Series/Report no.: 
Discussion Paper No. 414
Abstract: 
In early 2019, the stock prices of the German company Wirecard AG experienced market turmoil after several critical reports on activities claimed to be illegal. To analyze the market impact of news, we use stock price data for Wirecard AG and apply the reversed news model. We elaborate on whether new information can explain subsequent changes in the stock price. We find that articles published in the Financial Times as well as investor communications were important drivers of the stock price.
Subjects: 
News Model
Stock Market Efficiency
Event Study
JEL: 
D82
G14
G32
Document Type: 
Working Paper

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