Boons, MartijnTimpano, Matteo2019-06-242019-06-242019-01-15http://hdl.handle.net/10362/73477The objective of this work is to study the impact of exhaustibility on spot and futures prices of a specific set of resources, whose future limited availability and low substitutability performance have been highlighted by scientific papers. I modelled exhaustibility as a set of events, which might raise investors’ awareness regarding the intrinsic scarce nature of the commodities selected. I conducted an event study using ordinary least squares regressions for nine commodities over the sample 10/09/1993 – 10/09/2018 with event dummy variables grouped into eight categories. Regression results assert the presence of abnormal return in correspondence with the selected occurrences; however, it is difficult to determine a universally valid pattern in terms of significance and direction of the effect.engExhaustibilityCommoditiesEvent studymaster thesis202226140