Covid 19 pandemic and Abnormal Stock Returns of listed companies in Vietnam

Artikel

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.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Cogent Business & Management ; ISSN: 2331-1975 ; Volume: 8 ; Year: 2021 ; Issue: 1 ; Pages: 1-18 ; Abingdon: Taylor & Francis

Classification and Topics

• Classification: Management ; Asset Pricing; Trading Volume; Bond Interest Rates ; Information and Market Efficiency; Event Studies; Insider Trading
• Subject: Covid-19 pandemic ; firms’ ; performance ; stock return ; earnings ; event study

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Dang Ngoc Hung ; Vu Thi Thuy Van ; Chi Le Van
• Event: Veröffentlichung
• (who): Taylor & Francis
• (where): Abingdon
• (when): 2021

Further information

• DOI: doi:10.1080/23311975.2021.1941587
• Handle: http://hdl.handle.net/10419/245070