MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY

Detalhes bibliográficos
Autor(a) principal: Rocha, Carlos Henrique
Data de Publicação: 2023
Outros Autores: Vasconcelos, José Guilherme
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Estudos e Pesquisas em Administração
Texto Completo: https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785
Resumo: Samarco, a subsidiary of Vale S.A. and an Australian mining company, maintained mining tailings dams in Mariana and Brumadinho in Minas Gerais. The purpose of the dam is to prevent toxic waste from reaching the rivers and streams in the region. The Mariana dam broke on November 5, 2015 and the Brumadinho dam on January 25, 2019. Lives were lost, rivers and streams were contaminated, and toxic sludge spread over miles of land. Brazil witnessed two never-before-seen mining tailings dam accidents. Did the dam bursts affect Vale's stock price? Through the financial approach known as event study it was concluded that the collapse of the Fundão dam in Mariana caused a statistically significant cumulative post-event drop in the miner's share price. The breach of the Córrego do Feijão dam in Brumadinho, on the other hand, affected Vale's share price only on the day of the accident, with no repercussions in the rest of the post-event period. It is assumed that Vale's investors quickly priced the damage caused by the Brumadinho dam failure into the value of its stock.
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spelling MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDYBARRAGENS DE MARIANA E BRUMADINHO E PREÇO DA AÇÃO DA VALE: UM ESTUDO DE EVENTO Barragens de Mariana e BrumadinhoDesastre socioeconômico e ambientalRetornos da ação da mineradoraEstudo de eventoMariana and Brumadinho damsSocio-economic and environmental disasterMining stock returnsEvent studySamarco, a subsidiary of Vale S.A. and an Australian mining company, maintained mining tailings dams in Mariana and Brumadinho in Minas Gerais. The purpose of the dam is to prevent toxic waste from reaching the rivers and streams in the region. The Mariana dam broke on November 5, 2015 and the Brumadinho dam on January 25, 2019. Lives were lost, rivers and streams were contaminated, and toxic sludge spread over miles of land. Brazil witnessed two never-before-seen mining tailings dam accidents. Did the dam bursts affect Vale's stock price? Through the financial approach known as event study it was concluded that the collapse of the Fundão dam in Mariana caused a statistically significant cumulative post-event drop in the miner's share price. The breach of the Córrego do Feijão dam in Brumadinho, on the other hand, affected Vale's share price only on the day of the accident, with no repercussions in the rest of the post-event period. It is assumed that Vale's investors quickly priced the damage caused by the Brumadinho dam failure into the value of its stock.A Samarco subsidiária da Vale S.A. e de uma mineradora australiana mantinha em Mariana e Brumadinho, em Minas Gerais, barragens de rejeitos de mineração. O objetivo da barragem é impedir que os resíduos tóxicos não cheguem aos rios e córregos da região. A barragem de Mariana se rompeu em 5 de novembro de 2015 e a de Brumadinho em 25 de janeiro de 2019. Vidas se perderam, rios e córregos foram contaminados e lamas tóxicas se alastraram por quilômetros de terras. O Brasil assistiu a dois acidentes com barragens de rejeitos de mineração jamais vistos. Os rompimentos das barragens afetaram o preço das ações da Vale? Por meio da abordagem financeira conhecida por estudo de evento concluiu-se que o rompimento da barragem de Fundão, de Mariana, provocou uma queda acumulada pós-evento estatisticamente significante no preço da ação da mineradora. Já a ruptura da barragem do Córrego do Feijão, de Brumadinho, afetou o preço da ação da Vale somente no dia do acidente, sem repercussões no resto do pós-evento. Presume-se que os investidores da Vale rapidamente precificaram os danos causados pelo rompimento da barragem de Brumadinho no valor da sua ação.Universidade Federal de Mato Grosso - repadufmt@gmail.com2023-04-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado pelos paresapplication/pdftext/htmlhttps://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/1478510.30781/repad.v7i1.14785Revista Estudos e Pesquisas em Administração; v. 7 n. 1 (2023): Edição v. 7 n. 1 (Janeiro-Abril/2023)Journal Study and Research in Administration; Vol. 7 No. 1 (2023): Edição v. 7 n. 1 (Janeiro-Abril/2023)2594-7559reponame:Revista Estudos e Pesquisas em Administraçãoinstname:Universidade Federal de Mato Grosso (UFMT)instacron:UFMTporhttps://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785/12277https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785/12278Copyright (c) 2023 Carlos Henrique Rocha, José Guilherme Vasconceloshttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessRocha, Carlos HenriqueVasconcelos, José Guilherme2023-04-30T20:23:03Zoai:periodicoscientificos.ufmt.br:article/14785Revistahttps://periodicoscientificos.ufmt.br/ojs/index.php/repadPUBhttps://periodicoscientificos.ufmt.br/ojs/index.php/repad/oaicardoso9778@gmail.com||repadufmt@gmail.com2594-75592594-7559opendoar:2023-04-30T20:23:03Revista Estudos e Pesquisas em Administração - Universidade Federal de Mato Grosso (UFMT)false
dc.title.none.fl_str_mv MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
BARRAGENS DE MARIANA E BRUMADINHO E PREÇO DA AÇÃO DA VALE: UM ESTUDO DE EVENTO
title MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
spellingShingle MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
Rocha, Carlos Henrique
Barragens de Mariana e Brumadinho
Desastre socioeconômico e ambiental
Retornos da ação da mineradora
Estudo de evento
Mariana and Brumadinho dams
Socio-economic and environmental disaster
Mining stock returns
Event study
title_short MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
title_full MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
title_fullStr MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
title_full_unstemmed MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
title_sort MARIANA AND BRUMADINHO DAMS AND VALE'S SHARE PRICE: AN EVENT STUDY
author Rocha, Carlos Henrique
author_facet Rocha, Carlos Henrique
Vasconcelos, José Guilherme
author_role author
author2 Vasconcelos, José Guilherme
author2_role author
dc.contributor.author.fl_str_mv Rocha, Carlos Henrique
Vasconcelos, José Guilherme
dc.subject.por.fl_str_mv Barragens de Mariana e Brumadinho
Desastre socioeconômico e ambiental
Retornos da ação da mineradora
Estudo de evento
Mariana and Brumadinho dams
Socio-economic and environmental disaster
Mining stock returns
Event study
topic Barragens de Mariana e Brumadinho
Desastre socioeconômico e ambiental
Retornos da ação da mineradora
Estudo de evento
Mariana and Brumadinho dams
Socio-economic and environmental disaster
Mining stock returns
Event study
description Samarco, a subsidiary of Vale S.A. and an Australian mining company, maintained mining tailings dams in Mariana and Brumadinho in Minas Gerais. The purpose of the dam is to prevent toxic waste from reaching the rivers and streams in the region. The Mariana dam broke on November 5, 2015 and the Brumadinho dam on January 25, 2019. Lives were lost, rivers and streams were contaminated, and toxic sludge spread over miles of land. Brazil witnessed two never-before-seen mining tailings dam accidents. Did the dam bursts affect Vale's stock price? Through the financial approach known as event study it was concluded that the collapse of the Fundão dam in Mariana caused a statistically significant cumulative post-event drop in the miner's share price. The breach of the Córrego do Feijão dam in Brumadinho, on the other hand, affected Vale's share price only on the day of the accident, with no repercussions in the rest of the post-event period. It is assumed that Vale's investors quickly priced the damage caused by the Brumadinho dam failure into the value of its stock.
publishDate 2023
dc.date.none.fl_str_mv 2023-04-30
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Avaliado pelos pares
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785
10.30781/repad.v7i1.14785
url https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785
identifier_str_mv 10.30781/repad.v7i1.14785
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785/12277
https://periodicoscientificos.ufmt.br/ojs/index.php/repad/article/view/14785/12278
dc.rights.driver.fl_str_mv Copyright (c) 2023 Carlos Henrique Rocha, José Guilherme Vasconcelos
https://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2023 Carlos Henrique Rocha, José Guilherme Vasconcelos
https://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
text/html
dc.publisher.none.fl_str_mv Universidade Federal de Mato Grosso - repadufmt@gmail.com
publisher.none.fl_str_mv Universidade Federal de Mato Grosso - repadufmt@gmail.com
dc.source.none.fl_str_mv Revista Estudos e Pesquisas em Administração; v. 7 n. 1 (2023): Edição v. 7 n. 1 (Janeiro-Abril/2023)
Journal Study and Research in Administration; Vol. 7 No. 1 (2023): Edição v. 7 n. 1 (Janeiro-Abril/2023)
2594-7559
reponame:Revista Estudos e Pesquisas em Administração
instname:Universidade Federal de Mato Grosso (UFMT)
instacron:UFMT
instname_str Universidade Federal de Mato Grosso (UFMT)
instacron_str UFMT
institution UFMT
reponame_str Revista Estudos e Pesquisas em Administração
collection Revista Estudos e Pesquisas em Administração
repository.name.fl_str_mv Revista Estudos e Pesquisas em Administração - Universidade Federal de Mato Grosso (UFMT)
repository.mail.fl_str_mv cardoso9778@gmail.com||repadufmt@gmail.com
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