The impact of Americans with Disabilities Act (ADA) events on firm value

Autor:	Steven S. Crawford, Bryan R. Johnson, John R. Wingender
Rok vydání:	2015
Předmět:	Economics and Econometrics Retail industry Actuarial science Enterprise value Event study Economics Equity (finance) Capital asset pricing model ComputingMilieux_LEGALASPECTSOFCOMPUTING Legislation Demographic economics Media event Valuation (finance)
Zdroj:	Applied Economics Letters. 22:1154-1157
ISSN:	1466-4291 1350-4851
DOI:	10.1080/13504851.2015.1011305
Popis:	To date, no research has examined the impact of events related to the Americans with Disabilities Act (ADA) on the value of firms with publicly traded equity, despite the importance of this legislation to the economic and legal environments of business. To examine the impact of the ADA on firm valuation, we analyse ADA-related media events associated with publicly traded firms. We find that the effects of ADA-related events are concentrated in the retail industry, where firms interact more frequently with the public. We find some evidence that positive events result in positive cumulative abnormal returns, but we do not find corresponding returns for negative events. Furthermore, we show that returns accrue to firms with positive ADA events, irrespective of firm size.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b4f3fcb5f1023e144e1d025b644bd3e4 https://doi.org/10.1080/13504851.2015.1011305 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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