Covid 19 pandemic and Abnormal Stock Returns of listed companies in Vietnam
Covid-19 pandemic is affecting the health of the public, and it is also impacting business and economy. The main objective of this paper is to investigate the impact of Covid-19 pandemic on listed firms' performance and the abnormal stock returns in Vietnam. To study the impact of Covid-19 on firms' performance, we collected data about announced earnings on Q1/2020 and Q4/2019 of 714 enterprises and made comparison. The results revealed the enormous impacts of Covid-19 pandemic on the business performance. However, the level of influence varies among sectors. To study the impact of Covid-19 on the abnormal stock returns, the study employed the event research method with 3 events related to Covid-19 pandemic in Vietnam. A sample of 364 companies listed on Ho Chi Minh Stock Exchange (HOSE) was utilized. The findings revealed that the Covid-19 event affects the abnormal returns of stocks and the level of influence varied from each stage of Covid-19 prevention measure in Vietnam. The degrees of influence of the Covid-19 event on each stock were also different. The paper concluded that Covid-19 pandemic information can be used to predict stocks' prices.
Year of publication: |
2021
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Published in: |
Cogent Business & Management. - Abingdon : Taylor & Francis, ISSN 2331-1975. - Vol. 8.2021, 1, p. 1-18
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Publisher: |
Abingdon : Taylor & Francis |
Subject: | Covid-19 pandemic | firms’ | performance | stock return | earnings | event study |
Saved in:
freely available
Type of publication: | Article |
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Type of publication (narrower categories): | Article |
Language: | English |
Other identifiers: | 10.1080/23311975.2021.1941587 [DOI] 1774362155 [GVK] hdl:10419/245070 [Handle] |
Classification: | G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies |
Source: |
Persistent link: https://www.econbiz.de/10012657361
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