Malkina M.Yu.National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation mmuri@yandex.ru
Yakovleva E.K.Nizhny Novgorod Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration, Nizhny Novgorod, Russian Federation yakov-ekaterina@mail.ru
Importance The article considers factors affecting the changes in the stock price of various companies in the modern world, and market pricing in the stock market. Objectives The purpose of the research is to assess the significance and the degree of impact of various macroeconomic and industrial factors on stock prices. Methods The methodological basis of the research is graphic and correlation-regression analysis. Results We identified and analyzed factors influencing the changes in stock prices of a number of Russian oil and gas companies, explained the relationship between the considered factors and stock prices of selected companies, and proposed a regression equation to predict the future stock prices. Conclusionsand Relevance We determined the degree of impact of the factors on the stock price of companies under review. For Gazprom shares, the most significant factors include commercial freight turnover (except for pipelines), natural gas production and natural gas export. For Novatek shares, the most important factors include commercial freight turnover (except for pipelines), import of goods and Crude Oil Brent price. The obtained regression equation and the degree of elasticity of stock prices with respect to selected factors may be useful for further analysis of stock prices and prediction of future prices.
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