How policy changes affect shareholder wealth: the case of the Fukushima Dai-ichi nuclear disaster

This article analyses how policy changes affect shareholder wealth by exploiting the unexpected German reaction to the Japanese nuclear disaster. Event study results show that energy companies' shareholder wealth was affected by the policy reaction and not by the disaster.

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Bibliographic Details
Published in:Applied economics letters 2013-05, Vol.20 (8), p.799-803
Main Authors: Betzer, André, Doumet, Markus, Rinne, Ulf
Format: Article
Language:English
Subjects:
Applied economics
Electric power
Environment
event study
Germany
Japan
Nuclear energy
nuclear power
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Description
Summary:This article analyses how policy changes affect shareholder wealth by exploiting the unexpected German reaction to the Japanese nuclear disaster. Event study results show that energy companies' shareholder wealth was affected by the policy reaction and not by the disaster.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2012.748172