大阪大学　数理・データ科学教育研究センター
Center for Mathematical Modeling and Data Science,Osaka University

The Fukushima Nuclear Accident, Damage Compensation Resolution and Energy Stock Returns

Peng Xu (Hosei University)

1. ホーム
2. セミナー・集中講義
3. セミナー
4. The Fukushima Nuclear Accident, Damage Compensation Resolution and Energy Stock Returns

大証寄附研究部門セミナーシリーズ 第35回

The Fukushima Nuclear Accident, Damage Compensation Resolution and Energy Stock Returns

Peng Xu (Hosei University)

In this paper, we investigate both the reaction of energy stock prices to the accident and the reaction to the government response. TEPCO, the damaged electric power company's stock price lost the largest for direct damage of its nuclear plants in Fukushima. Contagion effects spread to non-damaged regionally monopolistic electric power stocks for expected increases of nuclear energy costs. The more an electric power company depends on nuclear energy; its stock price dropped more after the accident. Also nuclear construction stock prices lost their market values. Meanwhile, competitive effects occur for alternative energy companies and alternative energy stock prices gained from the accident. Finally, the market believes the primary beneficiary of the Nuclear Damage Liability Facilitation Fund Act was TEPCO.