The Impact of the California Earthquake on Real Estate Firms' Stock Value
AbstractThe purpose of this study is to examine the effect of the October 17, 1989 California earthquake on the stock value of firms involved in the real estate industry. The impact of the earthquake on real estate-related stock prices is examined. The findings indicate that the earthquake conveyed important new information to the market that was reflected in statistically significant negative stock returns among those firms operating in the San Francisco area. Real estate-related firms operating in other areas of California were generally unaffected by the earthquake.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 5 (1990)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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