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    National Tsing Hua University Institutional Repository > 科技管理學院  > 計量財務金融學系 > 期刊論文 >  An Extension of Security Price Reactions Around Product Recall Announcements


    Please use this identifier to cite or link to this item: http://nthur.lib.nthu.edu.tw/dspace/handle/987654321/62021


    Title: An Extension of Security Price Reactions Around Product Recall Announcements
    Authors: Chu, T. H.;C. C. Lin;L. J. Prather
    教師: 林哲群
    Date: 2005
    Publisher: University of Nebraska, Lincoln
    Relation: Lincol,Quarterly Journal of Business and Economics,University of Nebraska, 44(3&4), 33-48, 2005.
    Keywords: Extension
    Price
    recall nnouncement
    Abstract: We examine 269 non-automotive product recall announcements that were published in the Wall Street Journal Index between January 1984 and December 2003. Consistent with previous research, we find statistically significant negative abnormal returns on, and one day prior to, the announcement date. Mean cumulative abnormal returns are not statistically significant over the pre- and post-announcement periods, however, providing evidence in support of the efficient market hypothesis (EMH). These results are robust with respect to the selected index, beta estimation method, and assumption about the behavior of residuals. Moreover, empirical results suggest that important differential industry effects exist and that companies in the drugs/cosmetics industry suffer most from their recall nnouncements.
    URI: http://goliath.ecnext.com/coms2/gi_0199-4487991/An-extension-of-security-price.html
    http://www.unl.edu/
    http://nthur.lib.nthu.edu.tw/dspace/handle/987654321/62021
    Appears in Collections:[計量財務金融學系] 期刊論文

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