Stock Market Reactions to Contagious Animal Disease Outbreaks: An Event Study in Korean Foot-and-Mouth Disease Outbreaks

被引：36

作者：

Pendell, Dustin L. ^{[1
]}

Cho, Chulgu ^{[2
]}

机构：

[1] Colorado State Univ, Dept Agr & Resource Econ, Ft Collins, CO 80523 USA

[2] Natl Agr Cooperat Federat, Livestock Div, Seoul, South Korea

来源：

AGRIBUSINESS | 2013年 / 29卷 / 04期

关键词：

UNITED-KINGDOM; RETURNS;

D O I：

10.1002/agr.21346

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

This study examines the market reactions by investors of Korean agribusiness companies following five foot-and-mouth disease (FMD) outbreaks using an event study analysis. The results suggest that the FMD outbreaks caused the stock market to react in both a negative and positive manner to allied companies. The results also suggest that the market reactions were more gradual than instantaneous to the FMD outbreaks. Furthermore, the FMD outbreaks appear to have increased the volatility of the daily returns with the smaller companies facing the largest changes in volatility. (C) 2013 Wiley Periodicals, Inc.

引用

页码：455 / 468

页数：14

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