Katastrofavkastning
(2012) NEKH01 20112Department of Economics
- Abstract
- This thesis will examine the impact human-made catastrophes have on company stock returns and how efficiently the market react on the information. By looking at 30 different catastrophes this thesis will examine the market efficiency at a semi-strong level. These catastrophes have occurred from 1995 to late 2011 and are the works of companies in Europe and in North America. This is done using an event study and follows the market efficiency categories by Eugene F. Fama (1970). The result shows that catastrophes have a negative impact on the stock return. The market experiences a negative over reaction but efficiently adjust to this new information and the abnormal return quickly readjusts to a normal level.
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/2342001
- author
- Brodin, Emil LU
- supervisor
-
- Erik Norrman LU
- organization
- course
- NEKH01 20112
- year
- 2012
- type
- M2 - Bachelor Degree
- subject
- keywords
- Avkastning, Katastrof, Marknadseffektivitet, Marknadsmodellen, Eventstudie
- language
- Swedish
- id
- 2342001
- date added to LUP
- 2012-02-13 14:36:22
- date last changed
- 2012-02-13 14:36:22
@misc{2342001, abstract = {{This thesis will examine the impact human-made catastrophes have on company stock returns and how efficiently the market react on the information. By looking at 30 different catastrophes this thesis will examine the market efficiency at a semi-strong level. These catastrophes have occurred from 1995 to late 2011 and are the works of companies in Europe and in North America. This is done using an event study and follows the market efficiency categories by Eugene F. Fama (1970). The result shows that catastrophes have a negative impact on the stock return. The market experiences a negative over reaction but efficiently adjust to this new information and the abnormal return quickly readjusts to a normal level.}}, author = {{Brodin, Emil}}, language = {{swe}}, note = {{Student Paper}}, title = {{Katastrofavkastning}}, year = {{2012}}, }