Issuers (with a larger level of industry capitalization) release a existing report on IoA. Having said that, these results require to be confirmed on a larger analysis sample, that will only be doable right after more months of pandemic. 6. Conclusions The key purpose of this paper was an examination the capital market reaction (on the instance of WSE) to the details provided by the issuers, inside the type of a existing report on IoA. The investigation contribution to the state of know-how in the field of the implemented paper is an try to verify how the marketplace will react to such info inside a scenario when the specter of a really serious economic crisis hangs more than it, which was brought on by the pandemic of COVID-19 in the course of in 2020. Acquiring from the abovementioned references by issuers listed on the WSE, 55 situations of IoA announcements had been ultimately qualified to the analysis sample. For each and every of them, a seven-day symmetrical event window was constructed, covering the day of publishing facts in regards to the IoA and three days preceding and following that day. The obtained investigation outcomes, verified with all the non-parametric tests, demonstrated no statistical significance on the AAR for each and every on the analyzed days of the event window, except for two instances: WIG20 day t0 and mWIG40 day t+3 . However, a statistically significant market reaction in these circumstances was associated to an extremely tiny investigation sample. Based on the lack of statistical significance with the vast majority of obtained outcomes, the primary hypothesis adopted in the beginning of this study must be rejected. On the other hand, the lack of statistically considerable AR on the days following the disclosure of data on impairment of assets allows to indicate a different industry reaction inside the conditions on the financial crisis brought on by COVID-19 as compared to the 1 observed in preceding years. Lack of marketplace reaction about present reports informing about IoA is somewhat surprising. Throughout the COVID-19 pandemic, investors may perhaps discount a lot of distinctive damaging informations in the atmosphere and ignore certainly negative details relating to the reduction of recoverable volume of issuers’ assets. The predicament is unexpected because, Vorinostat medchemexpress within the prior years, there was a negative reaction of WSE investors to IoA (Lisicki 2021). This fact manifested itself inside the occurrence of statistically important negative AAR on the day of publishing the current report about IoA and around the following day. It may for that reason be assumed that the COVID-19 pandemic produced investors be substantially much less sensitive to other (than about COVID-19) data around the market. The analysis undertaken within this short article permits planet researchers to think about the possible occurrence of a diverse market reaction (or its complete absence) for the upcoming towards the capital markets information and facts Exendin-4 MedChemExpress through the COVID-19 pandemic. The obtained final results constitute a specific contradiction of the analysis final results obtained by prior researchers. For this reason, they need to be treated as a type of invitation for further scientific exploration. Nonetheless, at this point, some limitations from the study need to be pointed out, which had been a considerable reduction of your study sample (from 76 to 55 circumstances) as a result of presence of coexisting events within the occasion window. Having said that, an author utilizing the occasion analysis methodology should usually take such a scenario into account. The obtained benefits may well constitute the basis for undertaking research on the verification of investors’ sentiment to.