Maksim Faizylin

Recently, science deals with more and more segments of the financial system that have not been studied previously. One of these areas concerns the study of the amalgamation and takeover deals impact on the reaction of the stock market. The purpose of this work is to reveal the degree of the Russian stock market reaction to the occurrence of amalgamation and takeover deals in the oil / gas and financial sectors. In the course of the study, two hypotheses were considered concerning the influence of these deals on the excess market return. There were facts of insider trading in the oil and gas market and negative reactions from investors to announcements of amalgamation and takeover deals in the financial sector. Based on the results obtained, conclusions were drawn about the potential existence of other significant factors that could have an impact on the cumulative excess return of stock market shares at the time of such deals occurrence.

The study contains the results of the efforts to identify the stock markets reaction to the emergence of a pandemic in 2020. For the comparative analysis, daily data on the closing stock indices prices of the Russian Federation and the United States of America were used. Based on the conclusions of the comparative and graphical analysis, the main two hypotheses were tested about the significance of the unique crisis, which led to large-scale changes in the economy of many countries, including the transformation of financial markets. The relevance of this work lies in identifying the potential for building new research chains to detect and analyze other factors that affect the behavior of a wide range of markets in developing and developed countries during economic decline.