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Stock market response to food safety regulations

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  • Mario Mazzocchi
  • Maddalena Ragona
  • Melanie Fritz

Abstract

Event studies (ESs) can be applied to evaluate the impact of new regulations on the value of listed firms. However, regulatory changes are preceded by consultation processes and anticipations to the shareholders, which make it difficult to determine the exact timing of stock price response and limit the potential of the analysis. We adopt a methodological extension to the ES approach which enables the detection of significant response under date uncertainty. The application measures the impact of European Commission Regulation 1881/2006 and the English Contaminants in Food Regulation 2007 on 30 food securities listed in the London Stock Exchange. Oxford University Press and Foundation for the European Review of Agricultural Economics 2009; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org, Oxford University Press.

Suggested Citation

  • Mario Mazzocchi & Maddalena Ragona & Melanie Fritz, 2009. "Stock market response to food safety regulations," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 36(4), pages 571-595, December.
    • Handle: RePEc:oup:erevae:v:36:y:2009:i:4:p:571-595
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    File URL: http://hdl.handle.net/10.1093/erae/jbp043
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    Cited by:

    1. Ross, R. Brent & Pandey, Vivek & Ross, Kara L., 2015. "Sustainability and Strategy in U.S. Agri-Food Firms: An Assessment of Current Practices," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 18(1), pages 1-32, February.
    2. Irz, Xavier & Mazzocchi, Mario & Réquillart, Vincent & Soler, Louis-Georges, 2015. "Research in Food Economics: past trends and new challenges," Revue d'Etudes en Agriculture et Environnement, Editions NecPlus, vol. 96(01), pages 187-237, March.
    3. Brandon Schaufele & David Sparling, 2011. "Regulation and the financial performance of Canadian agribusinesses," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(2), pages 201-217, August.
    4. Poulton, David W. & Kaplinsky, Eran S., 2022. "Unfinished business: Market-based instruments under the Alberta Land Stewardship Act," Land Use Policy, Elsevier, vol. 123(C).
    5. Law, Cherry & Cornelsen, Laura & Adams, Jean & Penney, Tarra & Rutter, Harry & White, Martin & Smith, Richard, 2020. "An analysis of the stock market reaction to the announcements of the UK Soft Drinks Industry Levy," Economics & Human Biology, Elsevier, vol. 38(C).
    6. Pozo, Veronica F. & Schroeder, Ted C., 2016. "Evaluating the costs of meat and poultry recalls to food firms using stock returns," Food Policy, Elsevier, vol. 59(C), pages 66-77.
    7. Sholpan Smagulova & Gulashar Zh. Doskeyeva & Natalya Radko, 2016. "Analysis of the Oil Market and the Role of Investment in the Agrarian Sector in Kazakhstan," International Journal of Economics and Financial Issues, Econjournals, vol. 6(2), pages 798-806.
    8. Pozo, Veronica F. & Schroeder, Ted C., 2013. "Effects of Meat Recalls on Firms' Stock Prices," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151287, Agricultural and Applied Economics Association.

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