Research On Price Reaction Of Stock Market After Major Safety Accidents In Coal Listed Companies

Production satety accidents often occur,which will inevitably affect the normal production and operation of listed companies,causing huge economic losses to the company and causing serious social impact.In the case of safety accidents,major safety accidents in the coal industry have been the focus of attention because of high mortality and high economic losses.Coal listed companies usually issue relevant announcements to disclose relevant information after a major safety accident.For listed companies with coal safety accidents,whether the stock price will fluctuate greatly after the accident is crucial to the company's production and operation.For investors,it is equally important to pay attention to stock price changes,because understanding the impact of listed company announcements on stock prices is the key basis for obtaining excess returns.This paper uses the event research method to study the impact of such accidents on the stock price of coal listed companies by taking a major safety accident occurred in China's coal listed companies from 2001 to 2017.The research results show that the major safety accidents occurred in coal listed companies.The stock price has a significant reverse impact only 6 days before the announcement date.The impact gradually disappears with the passage of time.The stock price returns to the pre-issue within one month after the announcement.s level.This result is mainly due to the nature of the Chinese stock market itself and the investor's psychology.At the same time,the impact of major coal safety accidents on stock prices under different market conditions was studied.The results show that compared with the bull market status,the announcement of major coal safety accident announcements has a greater impact on the stock price of listed companies under the bear market.This result shows that investor sentiment is affected by the background of the economic environment and is more sensitiv e to the negative news of listed companies.Based on the information data of China's coal listed companies,studying the relationship between major security incidents of coal listed companies and the Chinese stock market,not only can broaden the horizons of related fields,but also more clearly recognize the current Chinese stock market.The stage and its corresponding features,in order to carry out targeted improvements.