Jiao, Zhiying (2018) The Impact of Hurricanes on Different Industries. Masters thesis, Concordia University.
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Abstract
In this paper, we investigate impacts on five industries (food, construction, gas and petroleum industry, industry, and transportation industry) from three hurricanes (Katrina, Irene and Sandy) that lead to tremendous economic losses in U.S. history. Our sample consists of 529 public firms from S&P 1500. We find that different industries are affected by hurricanes differently. Hurricanes pose a potential threat to food and insurance industry but could boost gas and petroleum markets and bring benefits to transportation industry if the rise in oil price is not extremely high. Hurricane Katrina, which is the strongest hurricane amongst the three, causes lower effect on the insurance industry than other two hurricanes; and it benefits gas and petroleum industry while other two adversely affect the industry. Furthermore, we notice that, during hurricane period, big companies suffer more than smaller companies. Higher returns on assets and Tobin’s Q are related to higher abnormal returns. Increase in capital expenditures after hurricanes could help companies gain better expectations from investors.
| Divisions: | Concordia University > John Molson School of Business > Finance |
|---|---|
| Item Type: | Thesis (Masters) |
| Authors: | Jiao, Zhiying |
| Institution: | Concordia University |
| Degree Name: | M. Sc. |
| Program: | Administration (Finance option) |
| Date: | June 2018 |
| Thesis Supervisor(s): | Ullah, Saif |
| ID Code: | 983997 |
| Deposited By: | ZHIYING JIAO |
| Deposited On: | 16 Nov 2018 16:58 |
| Last Modified: | 16 Nov 2018 16:58 |
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