Share price reaction to the emissions scandal at Volkswagen

The specialized book "Stock Price Reaction to the Emissions Scandal at Volkswagen" offers a comprehensive analysis of the impact of the emissions scandal on the stock price of Volkswagen AG. The project work, completed in 2021 at the FOM University of Applied Sciences for Economics & Management, examines the market's reaction to the announcement that approximately 11 million vehicles with illegal defeat devices were sold. By applying an event study, the difference between the actual realized returns and the expected returns of Volkswagen shares is analyzed. The work posits the hypothesis that Volkswagen AG's admission had a significant impact on the stock price. The first part of the book addresses the theoretical foundations and professional classification, followed by a detailed explanation of the process of an event study. The analysis is based on the market efficiency hypothesis and provides a well-founded overview of the literature used.