Graduation Year
2021
Date of Submission
5-2021
Document Type
Campus Only Senior Thesis
Degree Name
Bachelor of Arts
Reader 1
Fan Yu
Reader 2
Anna Wenzel
Abstract
This paper seeks to test the significance of the intradaily abnormal return of renewable energy, cannabis, and oil stocks in response to the January 2021 United States Senate runoff election in Georgia. Bloomberg was employed as the data source to provide intradaily market values which were converted to incremental returns. Nine firms were selected, three each from renewable energy, cannabis, and oil stocks. Each firm produced its cumulative abnormal return (CAR) and each industry had its own cross sectional average CAR. Cannabis saw a large increase in its CAR between January 5th and 6th which proved significant. Oil produced a relatively stagnant CAR that was also significant. Renewable energy produced a CAR that grew and behaved like cannabis’ but did not have any significance, perhaps due to external factors.
Recommended Citation
Dhillon, Luke, "The Effect of the Georgia Senate Runoff Election on the Intradaily Returns of Renewable Energy, Cannabis, and Oil" (2021). CMC Senior Theses. 2703.
https://scholarship.claremont.edu/cmc_theses/2703
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.
