Transmission of shocks among health care stock index returns

Bradley T. Ewing, Jamie B. Kruse and Mark A. Thompson

Applied Financial Economics Letters, 2008, vol. 4, issue 1, 71-75

Abstract: This article examines the transmission of shocks among different sectors of the health care industry using financial market data in an excess-return model. As suggested by the nature of the reimbursement schemes, we find a significant linkage between the payor and product sectors. A significant and stronger linkage between the payor and provider sector exists. Given its competitive and well-diversified operating environment, the product sector may be better positioned to absorb shocks from the other health care sectors.

Date: 2008
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DOI: 10.1080/17446540701416399

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