Stock market response to potash mine disasters

Kowalewski, Oskar; Śpiewanowski, Piotr

Document type :

Article dans une revue scientifique

DOI :

10.1016/j.jcomm.2020.100124

Title :

Stock market response to potash mine disasters

Author(s) :

Kowalewski, Oskar [Auteur]
Lille économie management - UMR 9221 [LEM]
Śpiewanowski, Piotr [Auteur]

Journal title :

Journal of Commodity Markets

Pages :

100124

Publisher :

Elsevier

Publication date :

2020-01-12

ISSN :

2405-8513

English keyword(s) :

Potash mine
Disasters
Event study
Working accident
Catastrophe

HAL domain(s) :

Sciences de l'Homme et Société
Sciences de l'Homme et Société/Economies et finances

English abstract : [en]

We examine the stock market reaction to disasters in potash mines. We use a sample of 55 mining accidents – natural and man-made - worldwide over the period 1986–2019. On average, the affected mining firms experience a ...
Show more >We examine the stock market reaction to disasters in potash mines. We use a sample of 55 mining accidents – natural and man-made - worldwide over the period 1986–2019. On average, the affected mining firms experience a cumulative drop in their market value of 1.15% in the first 2 day day of a disaster. We show also that the accidents impact stocks of the current and future (greenfield) competitors of the affected firms. The direction and size of the effect is determined by the relative strength of the negative risk effect and positive price and supply effects.Show less >

Language :

Anglais

Peer reviewed article :

Oui

Audience :

Internationale

Popular science :

Non

Collections :