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Abstract

From the beginning of 2011 to the middle of 2012, the U.S. stock market generally did not perform well. This subpar performance has been largely attributed by the business media to the Eurozone crisis. The purpose of this paper is to determine the extent to which the values of U.S. food companies are related to the Eurozone crisis. The stock prices of nine well-known U.S. food companies and the S&P index are regressed, using a system of equations approach, against a set of variables accounting for profitability and the economic wellbeing of the Eurozone and the United States. Based on the findings of this study it would seem that the U.S. stock market, including food companies, is primarily affected by the wellbeing of the U.S. economy as opposed to that of the EU.

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