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In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death...
Persistent link: https://www.econbiz.de/10009647513
In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death...
Persistent link: https://www.econbiz.de/10014203892
Financial hedging is only one aspect of corporate risk management. Rather, firms balance financial and operational risks in their overall risk management strategies. This article examines how labor law violations at prominent US companies via surprise Occupational Safety and Health...
Persistent link: https://www.econbiz.de/10014352621
In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death...
Persistent link: https://www.econbiz.de/10008488183
This study examines the stock market response to the Buncefield oil depot explosion in 2005. Like previous studies on technological disasters, we find an adverse effect on security prices. However, average abnormal return is only -0.58% for the four oil firms involved in the accident; that is,...
Persistent link: https://www.econbiz.de/10004988282
This paper examines the link between the intensity of news coverage, the news pressure, and stock market outcomes in the event of major corporate news announcements. Our first result is that stock market activity is related to the implications for the public of corporate news announcements, as...
Persistent link: https://www.econbiz.de/10010708013
In this paper,we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release,and half of them caused at least one death or...
Persistent link: https://www.econbiz.de/10010708253