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Ferstl, Robert ; Utz, Sebastian ; Wimmer, Maximilian

The effect of the Japan 2011 disaster on nuclear and alternative energy stocks worldwide: An event study

Artikel

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.

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.



Beteiligte Einrichtungen


Details

DokumentenartArtikel
Titel eines Journals oder einer ZeitschriftBusiness Research (BuR)
VerlagVerband der Hochschullehrer für Betriebswirtschaft e. V.
Band5
Nummer des Zeitschriftenheftes oder des Kapitels1
SeitenbereichS. 25-41
Datum18 Mai 2012
Veröffentlichungsdatum16 Mai 2011 12:17
InstitutionenWirtschaftswissenschaften > Institut für Betriebswirtschaftslehre > Lehrstuhl für Finanzierung (Prof. Dr. Gregor Dorfleitner)
ThemenverbundImmobilien- und Kapitalmärkte
Identifikationsnummer
WertTyp
urn:nbn:de:0009-20-33091URN
Verwandte URLs
URLURL Typ
http://prezi.com/eges7yofkwfg/the-effect-of-the-japan-2011-disaster/Zusätzliches Material / Supplementary Material
https://www.business-research.org/2012/1/finance/3309Verlag
Klassifikation
NotationArt
G14Journal of Economics Literature Classification
G12Journal of Economics Literature Classification
G15Journal of Economics Literature Classification
Stichwörter / KeywordsEvent study, Nuclear accidents, Fukushima-Daiichi, Fama-French model, Bootstrap
Dewey-Dezimal-Klassifikation300 Sozialwissenschaften > 330 Wirtschaft
StatusVeröffentlicht
BegutachtetJa, diese Version wurde begutachtet
An der Universität Regensburg entstandenJa
Dokumenten-ID20856

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