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The effect of the Japan 2011 disaster on nuclear and alternative energy stocks worldwide: An event study
Ferstl, Robert, Utz, Sebastian und Wimmer, Maximilian (2012) The effect of the Japan 2011 disaster on nuclear and alternative energy stocks worldwide: An event study. Business Research (BuR) 5 (1), S. 25-41.Veröffentlichungsdatum dieses Volltextes: 16 Mai 2011 12:17
Artikel
DOI zum Zitieren dieses Dokuments: 10.5283/epub.20856
Zusammenfassung
This event study investigates the impact of the Japanese nuclear disaster in Fukushima-Daiichi on the daily stock prices of German, French, Japanese and U.S. nuclear utility and alternative energy firms. Hypotheses regarding the (cumulative) abnormal returns based on a three-factor model are analyzed through joint tests by multivariate regression models and bootstrapping. Our results show ...
This event study investigates the impact of the Japanese nuclear disaster in Fukushima-Daiichi on the daily stock prices of German, French, Japanese and U.S. nuclear utility and alternative energy firms. Hypotheses regarding the (cumulative) abnormal returns based on a three-factor model are analyzed through joint tests by multivariate regression models and bootstrapping. Our results show significant abnormal returns for Japanese nuclear utility firms during the one-week event window and the subsequent four-week post-event window. Furthermore, while French and German nuclear utility and alternative energy stocks exhibit significant abnormal returns during the event window, we cannot confirm abnormal returns for U.S. stocks.
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| Dokumentenart | Artikel | ||||||||
| Titel eines Journals oder einer Zeitschrift | Business Research (BuR) | ||||||||
| Verlag: | Verband der Hochschullehrer für Betriebswirtschaft e. V. | ||||||||
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| Band: | 5 | ||||||||
| Nummer des Zeitschriftenheftes oder des Kapitels: | 1 | ||||||||
| Seitenbereich: | S. 25-41 | ||||||||
| Datum | 18 Mai 2012 | ||||||||
| Institutionen | Wirtschaftswissenschaften > Institut für Betriebswirtschaftslehre > Lehrstuhl für Finanzierung (Prof. Dr. Gregor Dorfleitner) | ||||||||
| Themenverbund | Immobilien- und Kapitalmärkte | ||||||||
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| Klassifikation |
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| Stichwörter / Keywords | Event study, Nuclear accidents, Fukushima-Daiichi, Fama-French model, Bootstrap | ||||||||
| Dewey-Dezimal-Klassifikation | 300 Sozialwissenschaften > 330 Wirtschaft | ||||||||
| Status | Veröffentlicht | ||||||||
| Begutachtet | Ja, diese Version wurde begutachtet | ||||||||
| An der Universität Regensburg entstanden | Ja | ||||||||
| Dokumenten-ID | 20856 |
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