Stock Market Reaction to Private Country-by-Country Reporting in Developing Countries

This repository contains replication materials for the analysis of stock market responses to private Country-by-Country Reporting in selected African economies. Due to licensing restrictions on proprietary data from Refinitiv Datastream, a synthetic dataset is provided. This dataset replicates the structure of the original stock data and enables full execution of the replication code.

The repository includes:

A Python script (code_version_final.ipynb) that conducts data processing, event study estimation, and significance testing of abnormal returns.

An R script (code_version_final.R) that applies the Generalized Random Forest (GRF) framework to estimate heterogeneous treatment effects using synthetic firm-level data.

All necessary supporting files and documentation, including Datastream code references and a detailed guide.

The scripts are modular, transparent, and well-annotated to facilitate reproducibility. Users can customize event dates or benchmark indices directly within the provided templates.