{"title":"The impacts of natural marine disasters on shipping industry in China: An event study","authors":"Fan Zeng, Chuan Pang, Huajun Tang","doi":"10.1016/j.seares.2025.102569","DOIUrl":null,"url":null,"abstract":"<div><div>Currently, global warming leads to a notable increase in natural marine disasters. It is imperative that the academic community undertake a quantitative assessment of the impacts of natural marine disasters on shipping industry in China. The event study revealed that natural marine disasters lead to negative abnormal trading volume and abnormal stock returns for the Chinese shipping industry. Moreover, the findings of the regression analysis indicated that abnormal trading volume was positively related to abnormal stock return. Overall, natural marine disasters may lower investors' expectation on the development of the shipping firms, which would adversely affect shipping firms' market value. The findings of our paper highlighted the importance of disaster management in the shipping industry, which suggests managers in shipping industry should improve disaster management. Our research contributes to the research area of the economic effects of natural disasters and the effects of uncertainty on firms' investments.</div></div>","PeriodicalId":50056,"journal":{"name":"Journal of Sea Research","volume":"204 ","pages":"Article 102569"},"PeriodicalIF":2.1000,"publicationDate":"2025-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Sea Research","FirstCategoryId":"89","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1385110125000085","RegionNum":4,"RegionCategory":"地球科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"MARINE & FRESHWATER BIOLOGY","Score":null,"Total":0}
引用次数: 0
Abstract
Currently, global warming leads to a notable increase in natural marine disasters. It is imperative that the academic community undertake a quantitative assessment of the impacts of natural marine disasters on shipping industry in China. The event study revealed that natural marine disasters lead to negative abnormal trading volume and abnormal stock returns for the Chinese shipping industry. Moreover, the findings of the regression analysis indicated that abnormal trading volume was positively related to abnormal stock return. Overall, natural marine disasters may lower investors' expectation on the development of the shipping firms, which would adversely affect shipping firms' market value. The findings of our paper highlighted the importance of disaster management in the shipping industry, which suggests managers in shipping industry should improve disaster management. Our research contributes to the research area of the economic effects of natural disasters and the effects of uncertainty on firms' investments.
期刊介绍：
The Journal of Sea Research is an international and multidisciplinary periodical on marine research, with an emphasis on the functioning of marine ecosystems in coastal and shelf seas, including intertidal, estuarine and brackish environments. As several subdisciplines add to this aim, manuscripts are welcome from the fields of marine biology, marine chemistry, marine sedimentology and physical oceanography, provided they add to the understanding of ecosystem processes.
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