本研究主要探討非洲豬瘟入侵亞洲後，該項訊息宣告，對台灣食品相關類股股價報酬是否會產生傳染效應。在利用93家台灣上市櫃食品公司為樣本，並採事件研究法分析中國、蒙古和越南等三國，分別被世界動物衛生組織 ( OIE ) 列為非洲豬瘟疫區國家之訊息宣告效應，實證結果顯示相關食品上游、中游和下游供應商之股價報酬，均產生顯著之負向異常報酬和累積異常報酬。
This study explored whether the news release of African swine fever ( ASF ) invasion in Asia has a contagion effect on the relevant food stock returns. A total of 93 listed and over-the-counter food firms in Taiwan were used as the sample. An event study method was adopted to analyze the contagion effect of ASF news release in China, Mongolia, and Vietnam, which were listed as ASF affected countries by the World Organisation for Animal Health. Empirical results revealed that the stock returns of upstream, midstream, and downstream suppliers in the food industry exhibited significantly negative abnormal returns and cumulative abnormal returns.
