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Robert Finger
''Stock price responses on the German suspension of genetically modified maize''
( 2010, Vol. 30 No.3 )
This note investigates the effect of the German governments' decision to suspend the cultivation of genetically modified maize on the stock returns of involved companies. Moreover, the first announcement to investigate a ban as well as a court decision rejecting Monsanto's lawsuit against the suspension are considered. This study is motivated by the expectation that these decisions have consequences beyond the small German market for genetically modified maize. An event study is used to evaluate the economic impacts on stock returns of Monsanto, Bayer and BASF. We find slight evidence that stock prices of Monsanto and BASF responded negatively to the German suspension of genetically modified maize.
Keywords: Event study, Bt maize, Monsanto, Bayer, BASF, GM crops
Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics: General
Manuscript Received : Apr 15 2010 Manuscript Accepted : Aug 26 2010

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