E3S Web Conf.
Volume 214, 20202020 International Conference on Energy Big Data and Low-carbon Development Management (EBLDM 2020)
|Number of page(s)||8|
|Section||Digital Development and Environmental Management of Energy Supply Chain|
|Published online||07 December 2020|
The Impact of Black Swan Events on Stock Prices: Evidence from the Melamine Incident in China
University of Queensland, Business Economic and Law Faculty, Brisbane, Australia
The influence of melamine incident on dairy industry in 2008 was investigated, and the control effect of different enterprises on the black swan incident was analyzed. First of all, this paper analyzes the impact of the stock of listed companies in the dairy industry after the black swan incident, and compares the impact of the different risk treatment of several leading enterprises on the stock price recovery.
The results show that: first, the melamine incident has a negative effect on the enterprises involved, and the enterprises involved do not have a competitive advantage. Second, in the same period, enterprises pay more attention to the influence of black swan event and take more powerful measures. The greater the risk treatment intensity is, the less the influence of black swan event will be. Third, the two enterprises have similar risk handling strength. The faster the response to risk events, the earlier the processing time, and the less affected by the black swan event.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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