کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
91869 | 159858 | 2011 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Effects of litigation under the Endangered Species Act on forest firm values
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کلمات کلیدی
موضوعات مرتبط
علوم زیستی و بیوفناوری
علوم کشاورزی و بیولوژیک
علوم زراعت و اصلاح نباتات
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Effects of litigation under the Endangered Species Act on forest firm values Effects of litigation under the Endangered Species Act on forest firm values](/preview/png/91869.png)
چکیده انگلیسی
The Endangered Species Act (ESA) has been a source of litigation and subject to court interpretation during the past several decades. In this study, event analysis was employed to examine the impact of six court decisions related to the ESA on the financial performance of U.S. forest products firms. The finding of abnormal returns revealed that all six events generated the expected positive or negative returns, and among them, four were statistically significant. Changes in systematic risk reflected the reaction of the stock market to the verdict announcements. Programs designed for habitat conservation can be implemented to compensate private landowners or firms for costs associated with protecting species on private forestlands.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Forest Economics - Volume 17, Issue 4, December 2011, Pages 388–398
Journal: Journal of Forest Economics - Volume 17, Issue 4, December 2011, Pages 388–398
نویسندگان
Changyou Sun, Xianchun Liao,