[{"author":[{"full_name":"Wengerek, Sascha Tobias","last_name":"Wengerek","first_name":"Sascha Tobias"},{"full_name":"Uhde, André","id":"36049","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André"}],"date_created":"2022-01-13T11:06:25Z","date_updated":"2024-04-17T13:35:20Z","title":"Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict","citation":{"chicago":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>, 2021.","ieee":"S. T. Wengerek and A. Uhde, <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>. 2021.","ama":"Wengerek ST, Uhde A. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>.; 2021.","short":"S.T. Wengerek, A. Uhde, Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict, 2021.","mla":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>. 2021.","bibtex":"@book{Wengerek_Uhde_2021, title={Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict}, author={Wengerek, Sascha Tobias and Uhde, André}, year={2021} }","apa":"Wengerek, S. T., &#38; Uhde, A. (2021). <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>."},"jel":["F14","F18","F23","F51"],"year":"2021","department":[{"_id":"186"},{"_id":"19"}],"user_id":"21810","_id":"29313","language":[{"iso":"eng"}],"keyword":["event study","international relations","protectionism","strategic trade policy","tariffs","trade conflict"],"type":"working_paper","status":"public","abstract":[{"text":"Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies’ future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics. ","lang":"eng"}]},{"page":"63","jel":["F14","F18","F23","F51"],"citation":{"apa":"Wengerek, S. T. (2020). <i>Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict</i>.","bibtex":"@book{Wengerek_2020, title={Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict}, author={Wengerek, Sascha Tobias}, year={2020} }","short":"S.T. Wengerek, Share Price Reactions to Tariff Imposition Announcements in the Trump Era - An Event Study of the Trade Conflict, 2020.","mla":"Wengerek, Sascha Tobias. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era - An Event Study of the Trade Conflict</i>. 2020.","ieee":"S. T. Wengerek, <i>Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict</i>. 2020.","chicago":"Wengerek, Sascha Tobias. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era - An Event Study of the Trade Conflict</i>, 2020.","ama":"Wengerek ST. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era - An Event Study of the Trade Conflict</i>.; 2020."},"year":"2020","main_file_link":[{"url":"https://ideas.repec.org/p/pdn/dispap/59.html"}],"title":"Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict","date_created":"2020-08-07T09:34:29Z","author":[{"last_name":"Wengerek","orcid":"0000-0002-7820-3903","id":"48837","full_name":"Wengerek, Sascha Tobias","first_name":"Sascha Tobias"}],"date_updated":"2022-01-06T06:53:17Z","status":"public","abstract":[{"text":"Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies' future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics.","lang":"eng"}],"type":"working_paper","language":[{"iso":"eng"}],"keyword":["event study","international relations","protectionism","strategic trade policy","tariffs","trade conflict"],"department":[{"_id":"186"}],"user_id":"48837","_id":"17703"},{"type":"working_paper","status":"public","abstract":[{"text":"Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies' future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics. ","lang":"eng"}],"user_id":"21810","department":[{"_id":"186"},{"_id":"188"}],"_id":"36004","language":[{"iso":"eng"}],"keyword":["event study","international relations","protectionism","strategic trade policy","tariffs","trade conflict"],"publication_status":"published","citation":{"ieee":"S. T. Wengerek and A. Uhde, <i>Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict</i>. Paderborn University, 2019.","chicago":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University, 2019.","ama":"Wengerek ST, Uhde A. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University; 2019.","bibtex":"@book{Wengerek_Uhde_2019, title={Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict}, publisher={Paderborn University}, author={Wengerek, Sascha Tobias and Uhde, André}, year={2019} }","short":"S.T. Wengerek, A. Uhde, Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict, Paderborn University, 2019.","mla":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University, 2019.","apa":"Wengerek, S. T., &#38; Uhde, A. (2019). <i>Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict</i>. Paderborn University."},"jel":["F14","F18","F23","F51"],"year":"2019","date_created":"2023-01-11T10:57:04Z","author":[{"full_name":"Wengerek, Sascha Tobias","last_name":"Wengerek","first_name":"Sascha Tobias"},{"last_name":"Uhde","id":"36049","full_name":"Uhde, André","first_name":"André"}],"publisher":"Paderborn University","date_updated":"2023-01-11T11:05:30Z","title":"Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict"},{"keyword":["terrorism","civil war","conflict duration","game theory","stochastic process","ideology"],"ddc":["040"],"language":[{"iso":"eng"}],"abstract":[{"text":"While Islamic State is the most present example, it is a fact that in many places around the globe, throughout history initially small groups have tried to challenge and destabilize or even overthrow governments by means of terrorist and guerrilla strategies. Therefore, we answer two questions. Why does a small group of insurgents believe it can overthrow the government by turning violent, even if the government is clearly superior? And how does a conflict develop into terrorism, a guerilla war, or a major conventional civil war, or is resolved peacefully? We develop a formal model for rebels and government and derive optimal choices. Further, we focus on three elements as important ingredients of a \"destabilization war\". All three of these - large random events, time preference (which we relate to ideology), and choice of duration of fight - are rarely considered in formal conflict theory. We can answer the above two questions using game theory analysis. First, insurgents rise up because they hope to destabilize through permanent challenging attacks. In this context, large randomness is an important ally of rebels. While each individual attack may have a low impact, at some point a large random event could lead to success. Hence, the duration of activities is a constitutive element of this kind of armed conflict. Patience (low time preference), which may reflect rebels' degree of ideological motivation, is crucial. Second, the mode of warfare or the conflict resolutions that develop are generally path-dependent and conditioned on the full set of options (including compromise). Various conditions (level of funding, ease of recruitment, access to weapons) influence different modes of warfare or a peaceful compromise in a complex way.","lang":"eng"}],"file":[{"access_level":"closed","file_id":"8838","file_name":"WP - An Economic Theory of ’Destabilization War'.pdf","file_size":516125,"date_created":"2019-04-08T06:49:16Z","creator":"cjhaake","date_updated":"2019-04-08T06:49:16Z","relation":"main_file","success":1,"content_type":"application/pdf"}],"date_created":"2019-04-08T06:45:02Z","title":"An Economic Theory of 'Destabilization War'","year":"2016","_id":"8836","department":[{"_id":"205"},{"_id":"475"}],"series_title":"Working Papers CIE","user_id":"20801","file_date_updated":"2019-04-08T06:49:16Z","type":"working_paper","status":"public","date_updated":"2022-01-06T07:04:03Z","volume":95,"author":[{"id":"186","full_name":"Gries, Thomas","last_name":"Gries","first_name":"Thomas"},{"last_name":"Haake","full_name":"Haake, Claus-Jochen","id":"20801","first_name":"Claus-Jochen"}],"has_accepted_license":"1","intvolume":"        95","citation":{"ama":"Gries T, Haake C-J. <i>An Economic Theory of “Destabilization War.”</i> Vol 95.; 2016.","chicago":"Gries, Thomas, and Claus-Jochen Haake. <i>An Economic Theory of “Destabilization War.”</i> Vol. 95. Working Papers CIE, 2016.","ieee":"T. Gries and C.-J. Haake, <i>An Economic Theory of “Destabilization War,”</i> vol. 95. 2016.","short":"T. Gries, C.-J. Haake, An Economic Theory of “Destabilization War,” 2016.","mla":"Gries, Thomas, and Claus-Jochen Haake. <i>An Economic Theory of “Destabilization War.”</i> Vol. 95, 2016.","bibtex":"@book{Gries_Haake_2016, series={Working Papers CIE}, title={An Economic Theory of “Destabilization War”}, volume={95}, author={Gries, Thomas and Haake, Claus-Jochen}, year={2016}, collection={Working Papers CIE} }","apa":"Gries, T., &#38; Haake, C.-J. (2016). <i>An Economic Theory of “Destabilization War”</i> (Vol. 95)."},"jel":["H56","O10","D84","C72","D74"]},{"issue":"4","year":"2009","date_created":"2022-08-02T23:59:24Z","publisher":"Springer Science and Business Media LLC","title":"My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan","publication":"Journal of Adult Development","abstract":[{"lang":"eng","text":"In order to investigate the significance of\r\nadults’ relationship to their parents, this relationship is\r\ncompared to relationships with siblings, friends, partners,\r\nand children. German adults (N = 902) between the ages\r\nof 20 and 86 completed the Network of Relationships\r\nInventory (Furman and Buhrmester 1992). Participants felt\r\nmost supported by their partners, followed by their children, mothers, friends, fathers, and siblings. Conflicts were\r\nmore frequently found within the family (especially with\r\nthe partner, followed by children, mothers, fathers, and\r\nsiblings) than with friends. Except for partner relationships,\r\nboth conflict and support decreased with age. Concerning\r\nrelative power within their relationships, partners, mothers,\r\nand siblings are seen as equals, friends and especially\r\nfathers are perceived as more powerful, and children as\r\nless, yet increasingly powerful. Regarding all relationship\r\ntypes and relationship qualities, the differences between\r\nwomen and men were small."}],"language":[{"iso":"eng"}],"keyword":["Family","Friends","\u0001 Support","\u0001 Conflict","\u0001 Power"],"publication_status":"published","publication_identifier":{"issn":["1068-0667","1573-3440"]},"citation":{"ama":"Buhl HM. My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan. <i>Journal of Adult Development</i>. 2009;16(4):239-249. doi:<a href=\"https://doi.org/10.1007/s10804-009-9070-2\">10.1007/s10804-009-9070-2</a>","chicago":"Buhl, Heike M. “My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan.” <i>Journal of Adult Development</i> 16, no. 4 (2009): 239–49. <a href=\"https://doi.org/10.1007/s10804-009-9070-2\">https://doi.org/10.1007/s10804-009-9070-2</a>.","ieee":"H. M. Buhl, “My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan,” <i>Journal of Adult Development</i>, vol. 16, no. 4, pp. 239–249, 2009, doi: <a href=\"https://doi.org/10.1007/s10804-009-9070-2\">10.1007/s10804-009-9070-2</a>.","short":"H.M. Buhl, Journal of Adult Development 16 (2009) 239–249.","mla":"Buhl, Heike M. “My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan.” <i>Journal of Adult Development</i>, vol. 16, no. 4, Springer Science and Business Media LLC, 2009, pp. 239–49, doi:<a href=\"https://doi.org/10.1007/s10804-009-9070-2\">10.1007/s10804-009-9070-2</a>.","bibtex":"@article{Buhl_2009, title={My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan}, volume={16}, DOI={<a href=\"https://doi.org/10.1007/s10804-009-9070-2\">10.1007/s10804-009-9070-2</a>}, number={4}, journal={Journal of Adult Development}, publisher={Springer Science and Business Media LLC}, author={Buhl, Heike M.}, year={2009}, pages={239–249} }","apa":"Buhl, H. M. (2009). My Mother: My Best Friend? Adults’ Relationships with Significant Others Across the Lifespan. <i>Journal of Adult Development</i>, <i>16</i>(4), 239–249. <a href=\"https://doi.org/10.1007/s10804-009-9070-2\">https://doi.org/10.1007/s10804-009-9070-2</a>"},"intvolume":"        16","page":"239-249","author":[{"last_name":"Buhl","id":"27152","full_name":"Buhl, Heike M.","first_name":"Heike M."}],"volume":16,"date_updated":"2022-08-29T04:46:47Z","oa":"1","main_file_link":[{"url":"https://link.springer.com/content/pdf/10.1007/s10804-009-9070-2.pdf","open_access":"1"}],"doi":"10.1007/s10804-009-9070-2","type":"journal_article","status":"public","user_id":"42165","department":[{"_id":"427"}],"_id":"32520","extern":"1"}]