Hyökkäys Ukrainaan ja sen vaikutukset Euroopan ja Yhdysvaltojen puolustusteollisuuden osakkeisiin
Journal: LUTPub (LUT University)
Year: 2025

This thesis examines how defence industrial companies’ stocks from Europe and the United States reacted to the beginning of the Russian invasion of Ukraine on the 24th of February 2022. To investigate this, event study methodology and the market model are utilized on European and US industrial companies with at least 5% of their income coming from armaments. In total, 44 companies fit these criteria, of which 20 are from Europe and 24 from the United States. To estimate abnormal returns the STOX