<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The aim of the paper is to analyse the impact of the new coronavirus on financial markets. The sample comprises returns from 80 countries, across all regions and incomes for the period known as the first wave. By combining event study methodology and time series analysis of new COVID-19 cases it is found that the negative price effect is widespread but unequal across regions. It is also noted that the distribution of the impact is also uneven with a high concentration in the week after the first local case but especially in the weeks around the pandemic declaration. Finally, it has been shown at different levels how the markets most affected by the crisis are not necessarily the most sensitive to the virus.</p>
</abstract>

The aim of the paper is to analyse the impact of the new coronavirus on financial markets. The sample comprises returns from 80 countries, across all regions and incomes for the period known as the first wave. By combining event study methodology and time series analysis of new COVID-19 cases it is found that the negative price effect is widespread but unequal across regions. It is also noted that the distribution of the impact is also uneven with a high concentration in the week after the first local case but especially in the weeks around the pandemic declaration. Finally, it has been shown at different levels how the markets most affected by the crisis are not necessarily the most sensitive to the virus.

World capital markets facing the first wave of COVID-19: Traditional event study versus sensitivity to new cases

La Galia Building. Universidad Miguel Hernández de Elche

Economics and Business Review

This work is licensed under the Creative Commons Attribution 4.0 International License.

The aim of the paper is to analyse the impact of the new coronavirus on financial markets. The sample comprises returns from 80 countries, across all regions...

World capital markets facing the first wave of COVID-19: Traditional event study versus sensitivity to new cases

Online veröffentlicht: 11. Jan. 2023

Seitenbereich: 5 - 38

Eingereicht: 06. Juli 2022

Akzeptiert: 21. Sept. 2022

DOI: https://doi.org/10.18559/ebr.2022.4.2

Schlüsselwörter
financial markets, event study, COVID-19, coronavirus, stock returns

© 2022 Pedro Luis Angosto-Fernández et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

World capital markets facing the first wave of COVID-19: Traditional event study versus sensitivity to new cases

Online veröffentlicht: 11. Jan. 2023

Seitenbereich: 5 - 38

Eingereicht: 06. Juli 2022

Akzeptiert: 21. Sept. 2022

DOI: https://doi.org/10.18559/ebr.2022.4.2

Schlüsselwörterfinancial markets, event study, COVID-19, coronavirus, stock returns

© 2022 Pedro Luis Angosto-Fernández et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Schlüsselwörter
financial markets, event study, COVID-19, coronavirus, stock returns