ORCID
Patrycja Chodnicka-Jaworska: 0000-0001-7471-352X
Piotr Jaworski: 0000-0002-0069-9750
Marcin Kot: 0000-0002-0418-1887
Keywords
abnormal stock prices, sanctions, Ukrainian War
Abstract
The aim of this paper is to analyze the current impact of the implementation of the European Union sanctions related to the Ukrainian War on the abnormal rates of return on the stock prices of companies listed on the stock exchanges. It was hypothesized that the implementation of the European Union sanctions related to the Ukrainian War is causing the varied abnormal rates of return on the stock prices of companies listed on the stock exchanges, taking into consideration the type of sector and the geographical proximity to the military conflict. The analysis used panel data event studies prepared using the daily rates of return on the stock prices of companies listed on the stock exchanges. Data were collected from the Refinitiv Eikon database. The models included divisions according to the type of sector and the geographical proximity to the military conflict. The results show that the reactions of subsectors varied. The significant impact was in the vicinity of Russia and Ukraine.
Acknowledgments
Funding
The research received no funds.
Declaration of Conflicting Interests
The author declared no potential conflicts of interest with respect to the research, authorship, and publication of the article.
Declaration about the scope of AI utilization
The authors did not use an AI tool in the preparation of the article..
Recommended Citation
Chodnicka, P., Jaworski, P., & Kot, M. (2024). European Union Sanctions Impact on The Sector Stock Prices – The Ukrainian War Effect?. Journal of Banking and Financial Economics, 2024(2), 54-81. https://doi.org/10.7172/2353-6845.jbfe.2024.2.5
First Page
54
Last Page
81
Page Count
28
Received Date
11.07.2024
Revised Date
27.09.2024
Accept Date
13.11.2024
Online Available Date
20.12.2024
DOI
10.7172/2353-6845.jbfe.2024.2.5
JEL Code
G30, G38, C23
Publisher
University of Warsaw