Abstract
To date, no research has examined the impact of events related to the Americans with Disabilities Act (ADA) on the value of firms with publicly traded equity, despite the importance of this legislation to the economic and legal environments of business. To examine the impact of the ADA on firm valuation, we analyse ADA-related media events associated with publicly traded firms. We find that the effects of ADA-related events are concentrated in the retail industry, where firms interact more frequently with the public. We find some evidence that positive events result in positive cumulative abnormal returns, but we do not find corresponding returns for negative events. Furthermore, we show that returns accrue to firms with positive ADA events, irrespective of firm size.
| Original language | English |
|---|---|
| Pages (from-to) | 1154-1157 |
| Number of pages | 4 |
| Journal | Applied Economics Letters |
| Volume | 22 |
| Issue number | 14 |
| DOIs | |
| State | Published - Sep 22 2015 |
Fingerprint
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
Cite this
The impact of Americans with Disabilities Act (ADA) events on firm value. / Crawford, Steven; Johnson, Bryan; Wingender, John R.
In: Applied Economics Letters, Vol. 22, No. 14, 22.09.2015, p. 1154-1157.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - The impact of Americans with Disabilities Act (ADA) events on firm value
AU - Crawford, Steven
AU - Johnson, Bryan
AU - Wingender, John R.
PY - 2015/9/22
Y1 - 2015/9/22
N2 - To date, no research has examined the impact of events related to the Americans with Disabilities Act (ADA) on the value of firms with publicly traded equity, despite the importance of this legislation to the economic and legal environments of business. To examine the impact of the ADA on firm valuation, we analyse ADA-related media events associated with publicly traded firms. We find that the effects of ADA-related events are concentrated in the retail industry, where firms interact more frequently with the public. We find some evidence that positive events result in positive cumulative abnormal returns, but we do not find corresponding returns for negative events. Furthermore, we show that returns accrue to firms with positive ADA events, irrespective of firm size.
AB - To date, no research has examined the impact of events related to the Americans with Disabilities Act (ADA) on the value of firms with publicly traded equity, despite the importance of this legislation to the economic and legal environments of business. To examine the impact of the ADA on firm valuation, we analyse ADA-related media events associated with publicly traded firms. We find that the effects of ADA-related events are concentrated in the retail industry, where firms interact more frequently with the public. We find some evidence that positive events result in positive cumulative abnormal returns, but we do not find corresponding returns for negative events. Furthermore, we show that returns accrue to firms with positive ADA events, irrespective of firm size.
UR - http://www.scopus.com/inward/record.url?scp=84936847679&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84936847679&partnerID=8YFLogxK
U2 - 10.1080/13504851.2015.1011305
DO - 10.1080/13504851.2015.1011305
M3 - Article
AN - SCOPUS:84936847679
VL - 22
SP - 1154
EP - 1157
JO - Applied Economics Letters
JF - Applied Economics Letters
SN - 1350-4851
IS - 14
ER -