An Empirical Analysis of the Effect of Supply Chain Disruptions on Long‐Run Stock Price Performance and Equity Risk of the Firm
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Abstract
This paper investigates the long‐term stock price effects and equity risk effects of supply chain disruptions based on a sample of 827 disruption announcements made during 1989–2000. Stock price effects are examined starting one year before through two years after the disruption announcement date. Over this time period the average abnormal stock returns of firms that experienced disruptions is nearly –40%. Much of this underperformance is observed in the year before the announcement, the day of the announcement, and the year after the announcement. Furthermore, the evidence indicates that firms do not quickly recover from the negative effects of disruptions. The equity risk of the firm also increases significantly around the announcement date. The equity risk in the year after the announcement is 13.50% higher when compared to the equity risk in the year before the announcement.
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The record
- Venue
- Production and Operations Management
- Topic
- Risk Management in Financial Firms
- Field
- Business, Management and Accounting
- Canadian institutions
- Western University
- Funders
- —
- Keywords
- Equity (law)Stock (firearms)Stock priceMonetary economicsBusinessEquity riskEconomicsEmpirical evidenceFinancial economicsFinancePrivate equity
- Has abstract in OpenAlex
- yes