Exploring the heterogeneity of stock market responses to Uber announcements: A comparative analysis of developed and emerging economies in Asia Pacific

Abstract

<abstract> <p>I investigated Uber's strategic announcements' impact on stock markets within the Asia Pacific region, distinguishing developed and emerging economies. Utilizing Crunchbase.com data, I applied the "Index Impact Test" and "Stock Response Test" to analyze market responses. I found that in developed economies, stock indices experienced a negative trend before announcements and a positive trend thereafter. In contrast, emerging economies exhibited a positive response exclusively after announcements. I also explored the performance of Uber's stock, demonstrating positive post-announcement effects in both economy types, with emerging economies showing sustained positivity. Further, I expanded to assess Uber's influence on other peer-to-peer (P2P) companies, specifically Lyft and Airbnb, offering insights into the broader implications of Uber's announcements across the P2P sector. The findings suggested that Lyft received a positive market response in developed and emerging economies, while Airbnb's response in developed economies tended to be negative post-announcement.</p> </abstract>