Fukushima, quel impact sur les entreprises françaises cotées de la filière de production d'électricité d'origine nucléaire ?

Sandrine Boulerne (), Jean-Philippe Lafontaine () and Bruno Pecchioli ()
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Sandrine Boulerne: ESCEM Tours Poitiers - ESCEM School of Business and Management - Groupe école supérieure de commerce et de management Tours-Poitiers
Jean-Philippe Lafontaine: Institut d'Administration des Entreprises (IAE) - Tours
Bruno Pecchioli: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: Fukushima, what impact on the listed French companies of the sector of nuclear electricity production? This communication reports of ongoing research on the reaction of financial markets following a serious industrial accident, also known as environmental crisis. The studied event is the Fukushima nuclear accident which began on March 11th, 2011. The results of an event study conducted on a sample of 16 French companies operating in the nuclear power generation sector pointed out a negative and significant average market reaction. The abnormal returns can be explained by contextual variables such as the nature of the activity and the media exposure of companies. Finally, the analysis of press releases issued by these companies after the accident permitted to identify 5 types of reaction from them.

Keywords: Event study; industrial accident; environmental crisis; crisis communication; Fukushima.; Etude d’événement; accident industriel; crise environnementale; communication de crise; Fukushima (search for similar items in EconPapers)
Date: 2016-05-30
Note: View the original document on HAL open archive server: https://hal.science/hal-01902423
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Published in Accountability, Responsabilités et Comptabilités, May 2016, Poitier, France. pp.cd-rom

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