International Evidence of COVID-19 and Stock Market Returns: An Event Study Analysis
We study the effect of the first registered case of COVID-19 on stock market returns using event study analysis. Mean-adjusted returns and market model methods are used to estimate cumulative abnormal returns for 30 countries. The results show that stock market returns experience a downwards trend...
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| Format: | Article |
| Language: | English |
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EconJournals
2020-07-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | http://mail.econjournals.com/index.php/ijefi/article/view/9941 |
| Summary: | We study the effect of the first registered case of COVID-19 on stock market returns using event study analysis. Mean-adjusted returns and market model methods are used to estimate cumulative abnormal returns for 30 countries. The results show that stock market returns experience a downwards trend as well as significant negative returns following the COVID-19 outbreak.
Keywords: COVID-19, event study, index returns; pandemics
JEL Classification: G14
DOI: https://doi.org/10.32479/ijefi.9941
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| ISSN: | 2146-4138 |