Catastrofi naturali e impatto finanziario

Among different approaches to quantify economic losses caused by a natural disaster, the event study analysis allows a quick investigation of the impact of an external event on stock returns of listed securities. In this article, we analyse two recent catastrophic events, namely the volcanic ash cloud that resulted in strong negative effects on European airline companies,and the earthquake in the Emilia-Romagna region, where a negative - although not significant - trend has been observed.