Search by...
- Keyword
- Title
- Author
- Subject
- Publisher
Results should have...
- All of these words
- Any of these words
- This exact phrase
- None of these words
Keyword searches may also use the operators
AND, OR, NOT, “ ”, ( )
AND, OR, NOT, “ ”, ( )
Hurricane Katrina's Effect on Oil Companies Stock Prices
Beginning of article
ABSTRACT
This study tests efficient market theory by examining the effect of Hurricane Katrina on oil companies' stock prices. It follows that oil firms with significant investment interests in Katrina's path should incur negative stock price returns in some time frame. This event study analyzed 15 firms with interests in the Gulf of Mexico and examines the effect of Hurricane Katrina on stock price's risk adjusted rate of return before and after August 30, 2005. Results show stock returns dropping significantly prior to Hurricane Katrina reaching land. These results support semi-strong market efficiency, reflecting that the market rapidly anticipated the devastation of Hurricane …
