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Abstract：
Product-harm crises have detrimental effects on firm\'s sales, reputation, and financial value, requiring crisis managers to promptly adopt appropriate response strategies to mitigate these impacts. Situational Crisis Communication Theory (SCCT) guides managers to align responsibility attribution with response strategies. Using Chinese listed firms\' product-harm crises sample from 2015 to 2021, this study analyzes the stock market\'s reaction to different response strategies. The event study method reveals that a passive strategy is more effective during the disclosure stage, and accept+no recall and deny+recall are conforming strategies during the initial response stage. Additionally, firms with a crisis history should assume greater responsibility when developing response strategies for product-harm crises, as crisis history amplifies negative effects. The results provide recommendations to help managers formulate appropriate strategies.
摘要：
产品损害危机对企业的销售有不利影响，声誉,和财务价值，要求危机管理者迅速采取适当的应对策略来减轻这些影响。情境危机传播理论（SCCT）指导管理者将责任归属与应对策略保持一致。本研究以2015-2021年中国上市公司产品损害危机为样本,分析了股票市场对不同应对策略的反应。事件研究法表明，被动策略在披露阶段更有效，接受+不召回和否认+召回是初始响应阶段的合规策略。此外,有危机历史的公司在制定产品损害危机的应对策略时应该承担更大的责任，随着危机历史放大负面影响。结果提供了建议，以帮助管理人员制定适当的策略。
