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The effect of oil price changes on the price of Russian and Chinese oil shares

Kenjegaliev, Amangeldi; Hall, Stephen G.

Authors

Stephen G. Hall



Abstract

© 2016, The Author(s). Do changes in oil prices have an effect on stocks of oil companies in emerging markets? Do the shares of oil companies in emerging markets react to the price news in a similar way as those of the Western companies? This paper aims to answer these questions utilizing event study techniques. As expected, the results of both parametric and nonparametric tests suggest that the fluctuations in oil prices have an effect on the stock prices. However, an interesting result is that the responses of stocks of Chinese and Russian oil companies are considerably different from the shares of their Western counterparts.

Journal Article Type Article
Publication Date Dec 1, 2017
Journal Empirical economics
Print ISSN 0377-7332
Electronic ISSN 1435-8921
Publisher Springer Verlag
Peer Reviewed Peer Reviewed
Volume 53
Issue 4
Pages 1639-1656
APA6 Citation Kenjegaliev, A., & Hall, S. G. (2017). The effect of oil price changes on the price of Russian and Chinese oil shares. Empirical economics, 53(4), 1639-1656. https://doi.org/10.1007/s00181-016-1176-3
DOI https://doi.org/10.1007/s00181-016-1176-3
Keywords Event studies, Abnormal return, Parametric t test, Nonparametric rank test, Oil companies
Publisher URL https://link.springer.com/article/10.1007/s00181-016-1176-3#aboutarticle
Additional Information Copy of article first published in: Empirical economics, 2016

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