کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1735132 1016172 2011 5 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Stocks and energy shocks: The impact of energy accidents on stock market value
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی انرژی (عمومی)
پیش نمایش صفحه اول مقاله
Stocks and energy shocks: The impact of energy accidents on stock market value
چکیده انگلیسی

We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool’s (2008) database on major energy accidents from 1907 to 2007. It appears that the stock market in general does not show a significant reaction with respect to these accidents. This would suggest that financial market participants perceive energy accidents as being ‘part of the game’ and discount for most energy accidents already in the valuation of the energy industry.

Research highlights
► We investigate the short-term response of stock markets to energy accidents.
► We analyze 209 major energy accidents in the period 1973–2007.
► The stock market in general does not show a significant short-term reaction regarding energy accidents.
► Financial markets appear to view energy accidents as a ‘normal’ part of doing business.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy - Volume 36, Issue 3, March 2011, Pages 1698–1702
نویسندگان
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