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Identifying Abnormal Returns to Food and Agribusiness Stocks on Key Farm Policy Legislative Dates

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Author Info

  • Detre, Joshua D.
  • Gunderson, Michael A.
  • Briggeman, Brian C.

Abstract

The efficient market hypothesis would suggest that stock prices incorporate the information revealed in the public process of creating legislation as the debate occurred. Thus, there should be no abnormal returns to agribusiness stocks on key legislative dates when drafting and altering the farm bill. Using an event study methodology, key legislative dates are tested for abnormal returns to firms that supply inputs to or process outputs of agricultural producers. Typically, agribusinesses react on the date legislation emerges from the joint House and Senate conference committee.

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File URL: http://purl.umn.edu/90551
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Bibliographic Info

Article provided by Agricultural Economics Association of Georgia in its journal Journal of Agribusiness.

Volume (Year): 26 (2008)
Issue (Month): 1 ()
Pages:

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Handle: RePEc:ags:jloagb:90551

Contact details of provider:
Postal: 301 Conner Hall, University of Georgia, Athens, GA 30602-7509
Web page: http://www.agecon.uga.edu/~jab/
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Related research

Keywords: agribusiness stock values; event study; farm bill; Agribusiness; Agricultural and Food Policy;

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Cited by:
  1. Brandon Schaufele & David Sparling, 2011. "Regulation and the financial performance of Canadian agribusinesses," Agricultural Finance Review, Emerald Group Publishing, vol. 71(2), pages 201-217, July.
  2. Detre, Joshua D. & Gunderson, Michael A., 2011. "The Triple Bottom Line: What is the Impact on the Returns to Agribusiness?," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 14(4).

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