Stock market response to potash mine disasters

Kowalewski, Oskar; Śpiewanowski, Piotr

Type de document :

Article dans une revue scientifique

DOI :

10.1016/j.jcomm.2020.100124

Titre :

Stock market response to potash mine disasters

Auteur(s) :

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

Titre de la revue :

Journal of Commodity Markets

Pagination :

100124

Éditeur :

Elsevier

Date de publication :

2020-01-12

ISSN :

2405-8513

Mot(s)-clé(s) en anglais :

Potash mine
Disasters
Event study
Working accident
Catastrophe

Discipline(s) HAL :

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

Résumé en anglais : [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 ...
Lire la suite >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.Lire moins >

Langue :

Anglais

Comité de lecture :

Oui

Audience :

Internationale

Vulgarisation :

Non

Collections :