SIGNAL EFFECT OF APPOINTMENT OF HEADS OF TOP MANAGMENT

There are many theories about the influence of various external and internal factors on the value of shares of companies. One of these theories presupposes a signal effect as a result of a change in the amount of dividends paid by the company. So, in the event of an increase in the level of dividend payments, the stock quotes of the company are skyrocketing, signaling the positive results of its activities. The theoretical aspects of the signal theory are disclosed in the article. The effect of the signal theory in the case of a change in the company's management is considered. As examples, changes in the value of shares of PJSC AvtoVAZ and Apple as a result of a change in the manager were examined. The presence of the influence of the signal effect on the value of shares was confirmed.