Market Reactions to Outsourcing Announcements

Ing. Supriya Guin

Diplomová práce

Abstract:

This thesis investigates the stock market reaction to outsourcing announcements made by S&P 500 firms using the event study methodology. A dataset of 27 announcements across IT, Finance & Accounting, Supply Chain, and other categories was analyzed over multiple event windows, applying both parametric and non-parametric statistical tests. The findings show predominantly positive and statistically significant abnormal returns, particularly for IT and Finance outsourcing. These results indicate that investors generally view outsourcing as a value enhancing strategic move that signals efficiency and operational focus. However, the magnitude of the reaction varies across outsourcing types, highlighting the importance of functional context in shaping market responses.

Keywords

Event Study, Outsourcing announcement, Market reaction, Sectoral Variance, Cumulative Abnormal Return.

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 16. 12. 2025

Obhajoba závěrečné práce

• Obhajoba proběhla 27. 1. 2026
• Vedoucí: Ing. Radim Procházka
• Oponent: Ing. Mgr. Matúš Horváth, Ph.D.

Masarykova univerzita

Ekonomicko-správní fakulta

Magisterský studijní program / obor:
Finance / Finance