文章基本信息

标题：The impact of the OPEC announcement on the oil companies' share prices
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作者：Rafael Graicer ; Thiago Affonso Nery ; Michele Nascimento Jucá 等
期刊名称：Revista de Administração da UFSM
印刷版ISSN：1983-4659
出版年度：2021
卷号：14
期号：4
页码：932-948
DOI：10.5902/1983465963575
语种：English
出版社：Universidade Federal de Santa Maria
摘要：Purpose: This study aims at verifying the negative impact of the announcement made by OPEC to maintain oil production - on March 5, 2020 - on the oil companies´ share prices in the main countries of Latin America and the BRIC´s.Design/methodology/approach:Such objective is verified through an event whose final sample consists of 29 oil companies of Brazil, Chile, Colombia, Russia, India and China.Findings:H1- OPEC announcement negatively affects the share price of oil companies- is not confirmed. However, H2 – OPEC announcement differently affects the share price of oil companies in Latin America and other emerging countries that make up the BRIC - is confirmed.Research limitations/implications:The sample considers only oil companies operating in the oil and integrated gas segments, as well as oil and gas exploration and production.Practical implications:These results expand the understanding of the impact of oil commodity price shocks on the share prices of oil companies in emerging countries, during the Covid-19 pandemic.Originality/value:Verification of a positive shock impact on the supply or the reduction in the oil price on the return on shares of BRIC´s companies and among other Latin American countries, during Covid-19.
关键词：OPEC announcement; Oil companies; Study of events; Mean difference test