| dc.description.abstract | In this thesis, we use an event study methodology to investigate whether oil producers
holding concessions in Nigeria have benefitted from conflict and regulatory shocks assumed
to inflict changes in the business environment. Using a sample of 28 companies and 52
events in Nigeria from 2001 to 2017, we find that events decreasing the intensity of conflict
led to positive abnormal returns on average. No average reaction is detected for events rising
the intensity of conflict. Further, we find evidence of average positive abnormal returns in
response to events lowering barriers to entry, governmental bargaining power and
transparency. We find no average abnormal returns for events causing higher barriers to
entry, rising governmental bargaining power, or increased transparency. | en_US |
