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Katastrofavkastning

Brodin, Emil LU (2012) NEKH01 20112
Department 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.
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author
Brodin, Emil LU
supervisor
organization
course
NEKH01 20112
year
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},
  keyword      = {Avkastning,Katastrof,Marknadseffektivitet,Marknadsmodellen,Eventstudie},
  language     = {swe},
  note         = {Student Paper},
  title        = {Katastrofavkastning},
  year         = {2012},
}