Marbuah, George
- Institutionen för ekonomi, Sveriges lantbruksuniversitet
Sammanfattning
This paper examines stock market reactions of affected firms to the introduction of the Extractive Sector Transparency Measures Act, ESTMA. Using publicly available stock returns data on Canadian listed mining firms and oil and gas producers, an event study is employed to assess how the stock market reacted to the key events in leading up to the enactment of the Act. ESTMA mandates extractive firms listed on Canadian stock exchange to disclose payments made to governments regarding exploration of oil, natural gas, and minerals. The evidence suggests no systematic negative impact on affected firms' stock returns surrounding the analysed events.
Nyckelord
Financial transparency; Mandatory disclosure requirements; Extractive sector transparency measures act
Publicerad i
Resources Policy
2019, volym: 63, artikelnummer: 101463
Utgivare: ELSEVIER SCI LTD
SLU författare
UKÄ forskningsämne
Nationalekonomi
Publikationens identifierare
- DOI: https://doi.org/10.1016/j.resourpol.2019.101463
Permanent länk till denna sida (URI)
https://res.slu.se/id/publ/102282