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中文摘要：
以2012年国内“毒胶囊”事件中被通报胶囊产品铬超标的5家医药上市企业为例,运用事件研究法,通过多案例分析企业产品伤害危机响应策略对市场反应的影响。结果表明：整体而言,企业产品伤害危机将引起股票市场的负向反应。在减少股市损失方面,最优的是积极回应策略;企业采取辩解或被动回应策略对股票市场的影响并无显著差异;当企业采取含糊回应方式时,股市遭受的损失最大。
英文摘要：
This study discusses the impact of firm＇s response strategy to product-harm crisis on stock market, based on 5 publicly traded pharmaceutical firms producing capsules with chromium above standard in Poison capsule event in 2012. Using event study method and multiple-case study method, the results show that： （1） Product-harm crisis have a negative effect on firm value generally. （2） Proactive response is an optimal method in protecting firm＇s market value. There is no significant difference in market response when firms use passive strategy and defensive strategy. Firm financial value loses most severely when firms response ambiguously.
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