Download or read book Drivers of the Russian Stock Market written by Rafael Hakl and published by . This book was released on 2020 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia is considered to be one of the four BRIC emerging markets and was, due to its history, one of the fastest growing economies during the last 20 years. To this day, Russia has been sought out by investors for its special market environment, the exceptional opportunities and attractive returns. The reasons for those high returns and the historically high volatility will be explained throughout this master thesis. Furthermore, various macroeconomic and financial market related factors will be examined and their influence on the returns of the Russian equity market, represented by the main indices, measured. A principal component analysis will be conducted to reduce the dimensionality of the data and increase the statistical significance of the models used. The main research question for this thesis is Which factors have a statistically significant influence on the returns of the RTSI and RTSTR?. The main findings are that the worldwide equity indices, oil and gas prices as well as the Russian rubble exchange rate are having a significant influence on the returns of the Russian equity indices. This leads to the conclusion that Russia is an attractive market for investors, who are willing to accept those risk factors and take them into account during their decision-making process. *****Russia is considered to be one of the four BRIC emerging markets and was, due to its history, one of the fastest growing economies during the last 20 years. To this day, Russia has been sought out by investors for its special market environment, the exceptional opportunities and attractive returns. The reasons for those high returns and the historically high volatility will be explained throughout this master thesis. Furthermore, various macroeconomic and financial market related factors will be examined and their influence on the returns of the Russian equity market, represented by the main indices, measured. A principal component analysis will be conducted to reduce the dimensional