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The Buncefield oil depot explosion. Where there's smoke, there's (stock market) fire?

Author

Listed:
  • Gunther Capelle-Blancard

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Marie-Aude Laguna

Abstract

This study examines the stock market response to the Buncefield oil depot explosion in 2005. Like previous studies on technological disasters, we find an adverse effect on security prices. However, average abnormal return is only -0.58% for the four oil firms involved in the accident; that is, the explosion did not throw shareholders into panic selling.

Suggested Citation

  • Gunther Capelle-Blancard & Marie-Aude Laguna, 2008. "The Buncefield oil depot explosion. Where there's smoke, there's (stock market) fire?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00305378, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00305378
    DOI: 10.1080/17446540701579006
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    Cited by:

    1. Sandrine Boulerne & Jean-Philippe Lafontaine & Bruno Pecchioli, 2016. "Fukushima, quel impact sur les entreprises françaises cotées de la filière de production d'électricité d'origine nucléaire ?," Post-Print hal-01902423, HAL.

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    Keywords

    Event study;

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