食安事件對食品業股價影響之探討

Abstract

近年來食安事件頻傳，降低消費者外食的意願，也嚴重打擊台灣食品廠商的商譽。本研究透過事件研究法分析2013年和2014年兩起油品食安事件對於台灣和中國食品廠商股價的衝擊，發現2013年油品食安事件對於台灣食品廠商皆造成事件前正向、事件後負向影響，也對中國下游廠商有負面影響。2014年油品食安事件對於台灣上下游廠商造成負向影響，對於中國食品廠商幾乎沒有影響。

In recent years there have been frequent food safety incidents which have decreased consumer willingness to eat out, and have also impacted the reputation of Taiwanese food companies. This study used the event study method to analyze the stock price impacts of two cooking oil scandals that occurred in 2013 and 2014 on Taiwanese and Chinese food companies. We found that the 2013 incident induced positive returns in Taiwanese food companies prior to the incident, and negative impacts after the incident. This incident also induced negative returns in downstream Chinese food companies. The 2014 incident induced negative returns in upstream and downstream Taiwanese food companies, but did not affect Chinese food companies.