haku: @indexterm EVENT STUDIES / yhteensä: 51
viite: 43 / 51
| Tekijä: | Diltz, J. D. |
| Otsikko: | U.S. Equity Markets and Environmental Policy. The Case of Electric Utility Investor Behavior During the Passage of the Clean Air Act Amendments of 1990 |
| Lehti: | Environmental and Resource Economics
2002 : DEC, VOL. 23:4, p. 379-401 |
| Asiasana: | CAPITAL MARKETS POLLUTION EVENT STUDIES EVALUATION ENVIRONMENTAL POLICY |
| Kieli: | eng |
| Tiivistelmä: | The authors examine electric utility investor reaction surrounding twenty-two milestones associated with the passage of the Clean Air Act Amendments of 1990. Results suggest that investors did not react sharply to the passage of the Amendments. To the extent that statistically significant effects were observed, the authors interpret the results as more indicative of investor concern over resolution of uncertainty surrounding the political process and resulting provisions than of concern over the expected costs of compliance following passage of the Amendments. Finally, changes in monthly excess returns appear to have resulted from changes in U.S. interest rates and investor concern over power industry deregulation. |
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