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History magazine - researches
Reference:
L. I. Borodkin, A. V. Dmitrieva
On the Role of Exogenous Factors
in Exchange Rate Dynamics
of Securities of the Nobel Brothers
Petroleum Production Company
at the End of the 19th to the Beginning
of the 20th Centuries
// History magazine - researches.
2013. ¹ 5.
P. 602-616.
URL: https://en.nbpublish.com/library_read_article.php?id=63461
L. I. Borodkin, A. V. Dmitrieva On the Role of Exogenous Factors in Exchange Rate Dynamics of Securities of the Nobel Brothers Petroleum Production Company at the End of the 19th to the Beginning of the 20th CenturiesAbstract: This article analyzes the evolution of exchange rate in securities by the largest oil firm in pre-revolutionary Russia—the Nobel Brothers Petroleum Production Company—at the beginning of the 20th century. The company had huge significance for the petroleum branch; its history represents its independent interest and is indicative of the petroleum sector on the whole. The purpose of the article is to investigate the influence of fundamental economic factors and political events (such as the Russo-Japanese War of 1904–1905 and the First Russian Revolution of 1905–1907) on stock market behavior (through the example of petroleum values). It gives brief characterization of the activities of the company in the context of processes that occurred at the beginning of the 20th century in the petroleum branch. Through the use of data on the dynamics of stock prices, profits of the business, and dynamics of the index of industrial production, regression models are constructed that have different explanatory power. Statistical analysis confirmed the connection of the dynamics of the company’s shares prices with exogenous factors (especially profit). Keywords: history, Nobel Brothers Company, statistical methods, balances, regression analysis, dynamics of stock shares, securities prices, economic factors, St. Petersburg Stock Exchange, petroleum industry, Nobel Brothers Company.
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This article written in Russian. You can find original text of the article here . References
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