The Analysis On Spillover Effect Of Food Safety Event

Food safety is a matter of international livelihood.It is not only directly related to the health and safety of the masses,but also to economic development and social stability,In recent years,"melamine","clenbuterol","plasticizer" and other food safety incidents frequently,so that consumers of food safety in China had a crisis of confidence,which to the food business and its industry has brought significant influences.How will these other events in the industry where the food safety event will be affected,and how these impacts will change as the government’s regulatory policies evolve.Through research to clarify these issues,China’s food enterprises and the healthy development of the industry,the government food safety regulatory policy to play an important role in the effective development.In this paper,the incident research method,selected research events were occurred in 2013 Huiyuan "rotten fruitdoor" incident and occurred in 2016 Tongyi ice teaforeign matter two food and beverage safety events,comparative analysis of typical food safety events on the experimental group And the control group of food companies,the specific analysis of the typical food safety incident spillover effect-the effect of infection or competition and its mechanism.Based on the data analysis of food safety incident spillover effect,this paper introduces the implementation of government regulatory policies and regulations and related business factors,establishes the double differential model of food spillover effect,and analyzes the effect of government regulation on food spillover effect.In this paper,the study of Huiyuan’s "rotten fruit door" event and the Tongyi ice tea event in 2016 shows that the occurrence of food safety incident has a significant effect on the enterprises involved in similar enterprises and similar enterprises.Huiyuan "rotten fruit door" event spillover effect is reflected in the stock market average cumulative excess rate of return,which shows a more obvious infection effect.Tongyi "ice tea" event showed a strong initial contagion effect,the latter part of the event due to enterprises to take effective response measures,consumer confidence rebound.The results of the comparative analysis of the two food safety events show that the spillover effects of food safety events caused by different causes are usually different.Huiyuan "rotten fruit door" incident is due to the so-called industry "hidden rules",as well as enterprises deliberately deceive consumers and occurred.Tongyi ice tea event is due to improper product storage and transportation caused by the problem,not the enterprise subjective,and involved in business and other related food and beverage enterprises in the event after the rapid take a positive and effective response measures.Thus,the spillover effects of the two events reflect different characteristics.The effect of difference-in-difference method on food spillover effect on incident spillover effect shows that the promulgation and implementation of the relevant policy system of food safety supervision has improved the average cumulative excess rate of return of food enterprises and has a positive impact on food enterprises.The effect of the firm’s own operating profit factor on the average accumulated excess rate of return of the enterprise,and the increase of the total operating income of the enterprise will increase the average excess rate of the enterprise stock,The rise in asset-liability ratio and return on assets will lead to a significant decline in the average cumulative excess returns.According to the main conclusions from the food enterprises in response to food safety incidents and government departments should further improve China’s food safety supervision and regulation of two aspects of the corresponding policy recommendations.The innovation of this paper is based on the comparison of two food safety events of similar food,and the comparative analysis of the two event spill effects is carried out.On this basis,the difference-in-difference model is constructed to analyze the effect of the food safety policy and regulations on the food safety incident of the impact,will improve the level of food safety in China to provide a strong reference.