【摘要】 本文根据2003~2013年上市公司或媒体公开披露的能源环境污染事故,运用事件分析法分别分析了资本市场对这些环境事故的反应,在此基础上按肇事公司所属行业性质对样本进行分类,分析不同行业能源事故对公司市场价值的影响。研究发现,资本市场对不同能源环境事件的反应显著程度不同,对不同行业能源事故的敏感性也不同,其中资本市场能够对化工行业的环境事故进行显著的反应,但持续时间较短,对其他行业的反应并不显著。更多还原

【Abstract】 Cases of energy environmental pollution events disclosed by listed companies or by media from 2003 to 2013 were collected.Event study method was employed to analyze the reaction of capital market to these events.The cases were grouped according to industry classification and the responses of capital market to the different groups were studied.Empirical results showed that capital market’s reaction to different environmental events and different industrial groups varied significantly.The capital market was sensitive to environmental accidents happened in chemical industry and showed significant downturn of market value but in a short time.The reaction of capital market to other industrial groups was not significant.更多还原