Estimating the market value of Steve Jobs using an event study

被引：2

作者：

Chatjuthamard, Pattanaporn ^{[1
]}

Jiraporn, Pornsit ^{[2
]}

Jiraporn, Napatsorn ^{[3
]}

Tong, Shenghui ^{[4
]}

机构：

[1] Chulalongkorn Univ, SASIN Grad Inst Business Adm, Bangkok, Thailand

[2] Penn State Univ, Sch Grad Profess Studies, Malvern, PA 19355 USA

[3] SUNY Coll Oswego, Sch Business, Oswego, NY 13126 USA

[4] China Huarong Asset Management, Beijing, Peoples R China

来源：

APPLIED ECONOMICS LETTERS | 2017年 / 24卷 / 01期

关键词：

Steve Jobs; event study; Apple; competition; stock market reaction; G14; CONTAGION; DEATHS;

D O I：

10.1080/13504851.2016.1158911

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using an event study approach, we seek to estimate the value investors placed on Steve Jobs by investigating the stock market reactions to his death. In the three-day window surrounding his death, the estimated cumulative abnormal returns are -5.76%. Given the market capitalization of Apple at the time, it can be inferred that investors valued Steve Jobs at 20 billion dollars. While tragic, the news about Jobs' death is greeted favourably by Apple's competitors. The competitors appear to be convinced that, without Steve Jobs, they can compete with Apple better.

引用

页码：30 / 34

页数：5

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