STUDY OF THE IMPACT OF NEWS SHOCKS ON THE SHARES OF LOGISTICS COMPANIES USING EVENT ANALYSIS

The article relates to the development of comparative analysis of “green” and “non-green” companies’ stock performance in terms of news shocks on the stock market. This study is relevant because of the current stock markets turbulence, which causes great uncertainty in strategic decision-making by both companies listed on stock markets and investors. And one of the main sources of volatility in the financial markets is negative news. The analysis in this study was carried out on the basis of the methodology of event analysis in STATA using daily data on stock prices of US logistics companies from 2007 to 2020. The most volatile moments on the US stock market were analyzed: the Great Recession and the COVID-19 pandemic. The results of the analysis showed a significant relationship between the commitment of logistics companies to ESG policy and the return on investment in their shares. The results obtained can serve as a basis of decision-making for investors interested in sustainable investment, as well as focus the attention of the logistics sector on the profitability of “greenˮ business transformation, even in conditions of market turbulence. The above methodology can be used in subsequent studies to compare groups of companies by a certain attribute in the context of the impact of news shocks on the stock returns of these companies.

event analysis, logistics, ESG risk, volatility, stock market, crisis, stock return, “green” stocks, comparative analysis, abnormal return

Rodionova M. A., Blagoi N. A., Skhvediani A. E. Study of the impact of news shocks on the shares of logistics companies using event analysis. Business. Education. Law, 2022, no. 4, pp. 71—76. DOI: 10.25683/VOLBI.2022.61.405.