Koerniadi, Hardjo and Krishnamurti, Chandrasekhar and Tourani-Rad, Alireza (2011) Natural disasters: blessings in disguise? In: 24th Australasian Finance and Banking Conference: Never Stand Still (AFBC 2011) , 14-16 Dec 2011, Sydney, Australia.
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This study examines the impact of natural disasters on market returns and on several industries that are likely to be affected by the disasters. We find that different natural disasters have different impacts on the returns of the market and on those of industries. Our evidence suggests that while earthquake, hurricane and tornado could negatively affect market returns several weeks after the events, other disasters such as flood, tsunami and volcanic eruption may have limited impact on market returns. We also find that construction and materials industry is positively affected by natural disasters but nonlife and travel industries are likely to suffer when a natural disaster strikes.
|Item Type:||Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)|
|Additional Information:||No evidence of copyright restrictions.|
|Uncontrolled Keywords:||natural disasters; market returns; industry returns; cumulative abnormal returns|
|Depositing User:||epEditor USQ|
|Date Deposited:||18 Jun 2012 06:41|
|Last Modified:||03 Jul 2013 01:12|
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