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Title: The effect of oil price changes on the price of Russian and Chinese oil shares
Authors: Hall, Stephen G.
Kenjegaliev, Amangeldi
First Published: 4-Oct-2016
Publisher: Springer Verlag
Citation: Empirical Economics, 2016, in press
Abstract: 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.
DOI Link: 10.1007/s00181-016-1176-3
ISSN: 0377-7332
eISSN: 1435-8921
Version: Publisher Version
Status: Peer-reviewed
Type: Journal Article
Rights: Copyright © the authors, 2016. This is an open-access article distributed under the terms of the Creative Commons Attribution License (, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Appears in Collections:Published Articles, Dept. of Economics

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