Japanese Equity Market Response to U.S. Administered Protection Decisions

The standard capital market event study is used to measure Japanese firm-specific effects resulting from action taken by the US in response to alleged dumping of Japanese imports in US markets. Empirical findings are that winners and losers in the process differ predictably from each other and from...

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Bibliographic Details
Published in:Managerial and decision economics 1997-02, Vol.18 (1), p.11-26
Main Authors: Harper, Richard K., Huth, William L.
Format: Article
Language:English
Subjects:
Agreements
Capital market
Capital markets
Competition
Efficient markets
Equity
Expected values
Fair market value
Fair value
Hypotheses
Industrial market
Information flow
International trade
Japan
Petitions
Prices
Profitability
Protectionism
Steel industry
Stock markets
Tariffs
Telephones
U.S.A
Valuation
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Summary:The standard capital market event study is used to measure Japanese firm-specific effects resulting from action taken by the US in response to alleged dumping of Japanese imports in US markets. Empirical findings are that winners and losers in the process differ predictably from each other and from the market in the way that Japanese investors view them, with differences being most pronounced at the petition filing date and the final stages of both the ITC and Department of Commerce decisions.
ISSN:0143-6570
1099-1468
DOI:10.1002/(SICI)1099-1468(199702)18:1<11::AID-MDE797>3.0.CO;2-A