Getting high on cannabis stock returns an event study

被引：6
|
作者：
Afik, Zvika [1 ,2 ]
Cohen, Tehila R. [1 ]
Lahav, Yaron [1 ]
机构：
[1] Ben Gurion Univ Negev, Dept Business Adm, POB 653, IL-8410501 Beer Sheva, Israel
[2] Hadassah Acad Coll, HaNeviim St, IL-9101001 Jerusalem, Israel
来源：
FINANCE RESEARCH LETTERS | 2022年 / 46卷
关键词：
Cannabis; Event-study; Market reaction; Firm value;
D O I：
10.1016/j.frl.2021.102226
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We report the Israeli firms' market value reaction to announcements on initiating Cannabis-related activity. Using Event Study analysis, we find a significant positive effect of the announcements: a cumulative average abnormal return of 64% in three days. Similar stock price reactions are observed for most firms individually, though some of these firms' activity in Cannabis has been declarative only without any related business action.
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页数：5
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