The Impact of the California Earthquake on Real Estate Firms' Stock Value

Roger M. Shelor · Dwight C. Anderson · Mark L. Cross

78 citations0/0 files storedJournal of Real Estate Research

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Financial Markets and Investment Strategies Earthquake and Disaster Impact Studies COVID-19 Pandemic Impacts

Abstract

The purpose of this study is to examine the effect of the October 17, 1989 California earthquake on the stock value of firms involved in the real estate industry. The impact of the earthquake on real estate-related stock prices is examined. The findings indicate that the earthquake conveyed important new information to the market that was reflected in statistically significant negative stock returns among those firms operating in the San Francisco area. Real estate-related firms operating in other areas of California were generally unaffected by the earthquake.

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