Abstract
This paper makes an event study on the Russo-Ukrainian War effect of the stock return, including that of the S&P500, renewable energy industry, military industry, and catering industry, with a time window of 29 days (39 days for Teslas event). This article will gain the normal and abnormal returns by using linear regression and the least square method. Then, the hypothesis test will be conducted using the Summation of the abnormal rate of return (CAR). The result will be shown by whether the cumulative abnormal return breaks the confidence interval according to the graph. Research results show that even though the war harms the economy, it does not entirely reduce the stock return. This empirical study would be helpful for the investors to make their investment strategy during the War period.
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