Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103707
Authors: 
Ferstl, Robert
Utz, Sebastian
Wimmer, Maximilian
Year of Publication: 
2012
Citation: 
[Journal:] BuR - Business Research [ISSN:] 1866-8658 [Volume:] 5 [Year:] 2012 [Issue:] 1 [Pages:] 25-41
Abstract: 
This event study investigates the impact of the Japanese nuclear disaster in Fukushima-Daiichi on the daily stock prices of French, German, Japanese, and U.S. nuclear utility and alternative energy firms. Hypotheses regarding the (cumulative) abnormal returns based on a three-factor model are analyzed through joint tests by multivariate regression models and bootstrapping. Our results show significant abnormal returns for Japanese nuclear utility firms during the one-week event window and the subsequent four-week post-event window. Furthermore, while French and German nuclear utility and alternative energy stocks exhibit significant abnormal returns during the event window, we cannot confirm abnormal returns for U.S. stocks.
Subjects: 
Fama-French model
Fukushima-Daiichi
bootstrap
event study
nuclear accidents
Persistent Identifier of the first edition: 
Document Type: 
Article

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