The Effect of Marine Oil Spill on Corporate Performance: Evidence from the Penglai19-3 Oil Spill
SSRN, ISSN: 1556-5068
2023
- 147Usage
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
Marine oil spill disasters occur frequently and have serious economic impacts on coastal activities. Taking Penglai 19-3 oil spill (PL 19-3 oil spill) event as an example, this paper employs a difference-in-difference estimation method to examine the impact of marine oil spill on corporate performance. The main results show that the PL19-3 oil spill reduces the net revenue of ocean-related enterprises relying on the Bohai Sea and coastal resources. The negative impact of the PL19-3 oil spill increases initially, then stabilize over time. Furthermore, heterogeneity analysis reveals that marine secondary industry is more likely to be affected by PL19-3 oil spill than marine primary and tertiary industries. Oil spill disasters are also found to reveal great influences on the non-state-owned and young enterprises. This paper provides important implications for companies and governments to respond to oil spill disasters quickly to reduce economic and ecological losses.
Bibliographic Details
Elsevier BV
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