Performance of American and Russian Joint Stock Companies on Financial Market : a Microstructure Perspective

• Autorzy: Magdalena Osińska , Andrzej Dobrzyński , Yochanan Shachmurove
• Języki publikacji: EN

Abstrakty

EN

This paper compares the periods before and after the Ukrainian crisis of 2014 from the perspective of market microstructure. The hypothesis is that the crisis influenced the fragile Russian financial market equilibrium. As financial markets adapt to the new equilibrium, the paper studies the effects of the crisis and the imposition of economic sanctions on Russia in terms of volatility, duration, prices and volume for selected joint stock companies listed on the U.S. and the Russian stock markets. Results reveal that the Moscow Stock exchange lacks an appropriate transmission mechanism from informed investors to the rest of the market. (original abstract)

Słowa kluczowe

EN

Joint stock companies; Financial markets

PL

Spółki akcyjne; Rynki finansowe

• Czasopismo: Equilibrium
• Rocznik: 2016
• Tom: 11
• Numer: nr 4
• Strony: 819--851

Twórcy

autor

Magdalena Osińska

• Nicolaus Copernicus University in Toruń, Poland

autor

Andrzej Dobrzyński

• Nicolaus Copernicus University in Toruń, Poland

autor

Yochanan Shachmurove

• The City College of New York, USA

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Identyfikatory

DOI

10.12775/EQUIL.2016.037