Issuers (with a higher amount of marketplace capitalization) release a existing report on IoA. Even so, these final results require to become confirmed on a larger research sample, which will only be feasible right after more months of pandemic. 6. Conclusions The principle goal of this paper was an examination the capital marketplace reaction (around the instance of WSE) towards the facts supplied by the issuers, inside the form of a present report on IoA. The research contribution to the state of know-how within the field from the implemented paper is definitely an attempt to confirm how the industry will react to such data within a situation when the specter of a severe financial crisis hangs more than it, which was triggered by the pandemic of COVID-19 throughout in 2020. Getting from the abovementioned references by issuers listed around the WSE, 55 instances of IoA announcements had been ultimately qualified for the study sample. For every of them, a seven-day symmetrical event window was constructed, covering the day of publishing details concerning the IoA and three days preceding and following that day. The obtained research results, verified together with the non-parametric tests, demonstrated no statistical significance from the AAR for every single from the analyzed days in the event window, except for two instances: WIG20 day t0 and mWIG40 day t+3 . Regrettably, a statistically substantial market place reaction in these circumstances was associated to a really smaller study sample. Based around the lack of statistical significance with the vast majority of obtained outcomes, the primary hypothesis adopted at the starting of this study needs to be rejected. Having said that, the lack of statistically significant AR on the days following the disclosure of information on impairment of assets enables to indicate a different market reaction inside the circumstances in the economic crisis brought on by COVID-19 as in comparison with the one observed in prior years. Lack of market place reaction about current reports informing about IoA is somewhat surprising. Through the COVID-19 pandemic, investors might discount numerous diverse adverse informations in the environment and ignore completely negative facts regarding the reduction of recoverable quantity of issuers’ assets. The predicament is unexpected simply because, in the preceding years, there was a damaging reaction of WSE investors to IoA (Lisicki 2021). This truth manifested itself inside the occurrence of statistically considerable adverse AAR on the day of publishing the present report about IoA and on the following day. It can consequently be assumed that the COVID-19 pandemic made investors be considerably significantly less sensitive to other (than about COVID-19) facts around the market. The study undertaken in this short article permits globe researchers to Lanabecestat Purity & Documentation consider the attainable occurrence of a diverse market place reaction (or its complete absence) towards the upcoming for the capital markets data during the COVID-19 pandemic. The obtained benefits constitute a certain contradiction from the analysis outcomes obtained by earlier researchers. For this reason, they must be treated as a type of invitation for additional scientific exploration. Nonetheless, at this point, some limitations on the study need to be pointed out, which have been a substantial reduction with the study sample (from 76 to 55 cases) due to the presence of coexisting events in the event window. Even so, an author applying the event analysis methodology should constantly take such a Balovaptan manufacturer circumstance into account. The obtained results may constitute the basis for undertaking investigation on the verification of investors’ sentiment to.