Stock price responses to the eco-points programme for electrical household appliances: evidence from Japan
Stock price responses to the eco-points programme for electrical household appliances: evidence from Japan
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股价对家用电器生态积分计划的反应：来自日本的证据
DOI：
10.1080/00036846.2017.1352076
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发表时间：
2017
影响因子：
2.2
通讯作者：
Shin’ya Okuda
中科院分区：
文献类型：
--
作者：
Hanae Tamechika;Shin’ya Okuda
本文分析了日本政府实施的“利用生态积分促进绿色消费电子产品的经济发展计划”及其对消费电子产品企业股价的影响。对该项目的经济效益研究较少。为了达到我们的目的，我们采用了事件研究方法。我们的研究结果表明，股票价格的积极响应程序的采用，从而表明该计划对相关公司的业绩产生了积极的影响。结果还表明，该方案的经济影响在随后的每一次方案延长中逐渐减少。这可能是因为该方案针对的是消费者不经常更换的耐用品。
This article examines the Japanese government’s ‘Project for Green Consumer Electronics to Promote Business through the Use of Eco-points’ and its economic impact on consumer electronics firms’ stock prices. There has been little research on the economic effect of this project. In order to achieve our aim, we employ event study methodology. Our results show that stock prices responded positively to programme adoption, thereby indicating that the programme had positive effects on the related firms’ performance. The results also show that the programme’s economic effects gradually decreased over each subsequent programme extension. This probably occurred because the programme targeted durable goods, which consumers do not replace frequently.