Shocks and fish stocks: the effect of disasters and policy announcements on listed fishing companies’ market value

Bert Scholtens; Rim Oueghlissi

doi:10.1002/bse.2601

Shocks and fish stocks: the effect of disasters and policy announcements on listed fishing companies’ market value

Bert Scholtens, Rim Oueghlissi

Centre for Responsible Banking and Finance

Research output: Contribution to journal › Article › peer-review

Abstract

We investigate the effect of disasters and fisheries policy announcements on the value of large fishing companies. These companies are highly relevant for global fish production and marine ecosystems. Financial markets reveal how investors perceive and appreciate news about disasters and policy announcements. This can affect the financial value of the fishing companies. We use a sample of 87 events and investigate how shocks affect the market value of 42 firms. It shows that earthquakes significantly affect fishing companies’ market returns. Further, it shows that listed fisheries are especially sensitive to disasters and that earthquakes have more pronounced effects than oil spills. Other event types trigger marginally significant responses or none at all.

Original language	English
Journal	Business Strategy and the Environment
Volume	Early View
Early online date	30 Jul 2020
DOIs	https://doi.org/10.1002/bse.2601
Publication status	E-pub ahead of print - 30 Jul 2020

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 14 Life Below Water

Keywords

Fisheries
Event study
Stock market returns
Disaster
Policy announcement
Keystone companies
Firm performance

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10.1002/bse.2601Licence: CC BY-NC-ND

Scholtens_BSE_Shocks_CC
Copyright © 2020 The Authors. Business Strategy and The Environment published by ERP Environment and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution‐NonCommercial‐NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non‐commercial and no modifications or adaptations are made.
Final published version, 18.1 MBLicence: CC BY-NC-ND

Cite this

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abstract = "We investigate the effect of disasters and fisheries policy announcements on the value of large fishing companies. These companies are highly relevant for global fish production and marine ecosystems. Financial markets reveal how investors perceive and appreciate news about disasters and policy announcements. This can affect the financial value of the fishing companies. We use a sample of 87 events and investigate how shocks affect the market value of 42 firms. It shows that earthquakes significantly affect fishing companies{\textquoteright} market returns. Further, it shows that listed fisheries are especially sensitive to disasters and that earthquakes have more pronounced effects than oil spills. Other event types trigger marginally significant responses or none at all. ",

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KW - Stock market returns

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KW - Policy announcement

KW - Keystone companies

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Shocks and fish stocks: the effect of disasters and policy announcements on listed fishing companies’ market value

Abstract

UN SDGs

Keywords

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