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

Author

Listed:
  • 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.

Suggested Citation

  • Detre, Joshua D. & Gunderson, Michael A. & Briggeman, Brian C., 2008. "Identifying Abnormal Returns to Food and Agribusiness Stocks on Key Farm Policy Legislative Dates," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 0(Number 1), pages 1-19.
  • Handle: RePEc:ags:jloagb:90551
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    File URL: http://ageconsearch.umn.edu/record/90551/files/JAB_Spr08__04_pp21-39.pdf
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    Cited by:

    1. 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 (IFAMA), vol. 0(Issue 4), pages 1-14, November.
    2. 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, August.

    More about this item

    Keywords

    Agribusiness; Agricultural and Food Policy;

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