A carregar...
Publicação
Stock market reaction to the COVID‑19 pandemic : an event study
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 777.52 KB | Adobe PDF |
Orientador(es)
Resumo(s)
The COVID-19 pandemic created unprecedented challenges for communities and
economies around the world. Based on 13 leading global stock indices, the event
study method is adopted in this research to explore the impact of the COVID-19
pandemic on the performance of the stock market indices in the short term. Regres sion results show that the global stock markets performed poorly in response to the
COVID-19 pandemic. The findings of the event study imply that the stock markets
reacted rapidly and negatively to the COVID-19 pandemic when lockdown restric tions were announced to contain the spread of the novel coronavirus. The Asian
stock indices experienced more negative abnormal earnings than the stock indices
of the countries outside Asia. Moreover, investor sentiments act as a wedge between
financial investment decisions, returns, and fear of uncertainty caused by the pan demic. Furthermore, the panic experienced by investors may be an effective trans mission channel through which the COVID-19 outbreak affects the returns on the
stock market indices.
Descrição
Palavras-chave
Abnormal return COVID-19 pandemic Financial performance Investor sentiment Lockdown Stock index
Contexto Educativo
Citação
Ji, Xiuping ... [et al.] (2024). "Stock market reaction to the COVID‑19 pandemic : an event study". Portuguese Economic Journal, 23(1):167-186
Editora
Springer