Stock market reactions to US Consumer Product Safety Commission enforcement actions
Gespeichert in:
| Autor*in: |
Rashid Ameer [verfasserIn] Othman, Radiah [verfasserIn] |
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| Format: |
E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2023 |
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| Schlagwörter: |
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| Übergeordnetes Werk: |
Enthalten in: Accounting and finance - Melbourne : Wiley-Blackwell, 1979, 63(2023), 3 vom: Sept., Seite 3709-3735 |
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| Übergeordnetes Werk: |
volume:63 ; year:2023 ; number:3 ; month:09 ; pages:3709-3735 |
| Links: |
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| DOI / URN: |
10.1111/acfi.13063 |
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| Katalog-ID: |
1863851887 |
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| 982 | |2 26 |1 00 |x DE-206 |b This study examines stock market reaction to violations of product safety regulations and firm product responsibilities in the post-enforcement period. Our event study results show that market reaction was negative to failures by firms to report product defects in a timely way. Our results also show that the stock market reaction varies depending on the type of violations, and whether there are single or multiple violations. Firms spend more on research and development and advertising in the post-enforcement period, in addition to investing in their compliance programmes which have a significant positive impact on product responsibility stewardship. Our empirical results show that the stock market reacts negatively to recall volume and refund remediation strategy. The stock market reaction is negative to social media communication about product recalls initiated by manufacturers. However, this negative effect appears to be counteracted by the positive corporate social responsibility (CSR) reputation effect of the manufacturers. Our findings imply that US manufacturing firms dealing with product recalls must be sensitive to how consumers and investors interpret the communication. | ||
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10.1111/acfi.13063 doi (DE-627)1863851887 (DE-599)KXP1863851887 DE-627 ger DE-627 rda eng Rashid Ameer verfasserin (DE-588)1021845183 (DE-627)702857505 (DE-576)36429650X aut Stock market reactions to US Consumer Product Safety Commission enforcement actions Rashid Ameer, Radiah Othman 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Consumer Product Safety Commission (dpeaa)DE-206 consumer protection (dpeaa)DE-206 enforcement (dpeaa)DE-206 market valuation (dpeaa)DE-206 product responsibility (dpeaa)DE-206 Othman, Radiah verfasserin aut Enthalten in Accounting and finance Melbourne : Wiley-Blackwell, 1979 63(2023), 3 vom: Sept., Seite 3709-3735 Online-Ressource (DE-627)300589093 (DE-600)1482438-3 (DE-576)09726766X 1467-629X nnns volume:63 year:2023 number:3 month:09 pages:3709-3735 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.13063 Verlag kostenfrei https://doi.org/10.1111/acfi.13063 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 63 2023 3 9 3709-3735 26 01 0206 4387270292 x1z 13-10-23 2403 01 DE-LFER 4404435401 00 --%%-- --%%-- n --%%-- l01 09-11-23 2403 01 DE-LFER https://doi.org/10.1111/acfi.13063 26 00 DE-206 This study examines stock market reaction to violations of product safety regulations and firm product responsibilities in the post-enforcement period. Our event study results show that market reaction was negative to failures by firms to report product defects in a timely way. Our results also show that the stock market reaction varies depending on the type of violations, and whether there are single or multiple violations. Firms spend more on research and development and advertising in the post-enforcement period, in addition to investing in their compliance programmes which have a significant positive impact on product responsibility stewardship. Our empirical results show that the stock market reacts negatively to recall volume and refund remediation strategy. The stock market reaction is negative to social media communication about product recalls initiated by manufacturers. However, this negative effect appears to be counteracted by the positive corporate social responsibility (CSR) reputation effect of the manufacturers. Our findings imply that US manufacturing firms dealing with product recalls must be sensitive to how consumers and investors interpret the communication. |
| spelling |
10.1111/acfi.13063 doi (DE-627)1863851887 (DE-599)KXP1863851887 DE-627 ger DE-627 rda eng Rashid Ameer verfasserin (DE-588)1021845183 (DE-627)702857505 (DE-576)36429650X aut Stock market reactions to US Consumer Product Safety Commission enforcement actions Rashid Ameer, Radiah Othman 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Consumer Product Safety Commission (dpeaa)DE-206 consumer protection (dpeaa)DE-206 enforcement (dpeaa)DE-206 market valuation (dpeaa)DE-206 product responsibility (dpeaa)DE-206 Othman, Radiah verfasserin aut Enthalten in Accounting and finance Melbourne : Wiley-Blackwell, 1979 63(2023), 3 vom: Sept., Seite 3709-3735 Online-Ressource (DE-627)300589093 (DE-600)1482438-3 (DE-576)09726766X 1467-629X nnns volume:63 year:2023 number:3 month:09 pages:3709-3735 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.13063 Verlag kostenfrei https://doi.org/10.1111/acfi.13063 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 63 2023 3 9 3709-3735 26 01 0206 4387270292 x1z 13-10-23 2403 01 DE-LFER 4404435401 00 --%%-- --%%-- n --%%-- l01 09-11-23 2403 01 DE-LFER https://doi.org/10.1111/acfi.13063 26 00 DE-206 This study examines stock market reaction to violations of product safety regulations and firm product responsibilities in the post-enforcement period. Our event study results show that market reaction was negative to failures by firms to report product defects in a timely way. Our results also show that the stock market reaction varies depending on the type of violations, and whether there are single or multiple violations. Firms spend more on research and development and advertising in the post-enforcement period, in addition to investing in their compliance programmes which have a significant positive impact on product responsibility stewardship. Our empirical results show that the stock market reacts negatively to recall volume and refund remediation strategy. The stock market reaction is negative to social media communication about product recalls initiated by manufacturers. However, this negative effect appears to be counteracted by the positive corporate social responsibility (CSR) reputation effect of the manufacturers. Our findings imply that US manufacturing firms dealing with product recalls must be sensitive to how consumers and investors interpret the communication. |
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| container_issue |
3 |
| title_short |
Stock market reactions to US Consumer Product Safety Commission enforcement actions |
| url |
https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.13063 https://doi.org/10.1111/acfi.13063 |
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Othman, Radiah |
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Ameer, Rashid Rashid, Ameer Rashid Ameer |
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Ameer, Rashid Rashid, Ameer Rashid Ameer |
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Ameer, Rashid Rashid, Ameer Rashid Ameer |
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| doi_str |
10.1111/acfi.13063 |
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| up_date |
2024-07-04T12:32:55.669Z |
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ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="r">https://doi.org/10.1111/acfi.13063</subfield></datafield><datafield tag="982" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">00</subfield><subfield code="x">DE-206</subfield><subfield code="b">This study examines stock market reaction to violations of product safety regulations and firm product responsibilities in the post-enforcement period. Our event study results show that market reaction was negative to failures by firms to report product defects in a timely way. Our results also show that the stock market reaction varies depending on the type of violations, and whether there are single or multiple violations. Firms spend more on research and development and advertising in the post-enforcement period, in addition to investing in their compliance programmes which have a significant positive impact on product responsibility stewardship. Our empirical results show that the stock market reacts negatively to recall volume and refund remediation strategy. The stock market reaction is negative to social media communication about product recalls initiated by manufacturers. However, this negative effect appears to be counteracted by the positive corporate social responsibility (CSR) reputation effect of the manufacturers. Our findings imply that US manufacturing firms dealing with product recalls must be sensitive to how consumers and investors interpret the communication.</subfield></datafield></record></collection>
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7.3981466 |