Covid-19's adverse effects on a stock market index

被引：46

作者：

Cao, Kang Hua ^{[1
]}

Li, Qiqi ^{[2
]}

Liu, Yun ^{[3
]}

Woo, Chi-Keung ^{[2
]}

机构：

[1] Hong Kong Baptist Univ, Dept Econ, Hong Kong, Peoples R China

[2] Educ Univ Hong Kong, Dept Asian & Policy Studies, Tai Po, Peoples R China

[3] Hong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Peoples R China

来源：

APPLIED ECONOMICS LETTERS | 2021年 / 28卷 / 14期

关键词：

Covid-19; daily stock market index; market index elasticities; panel data analysis;

D O I：

10.1080/13504851.2020.1803481

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We perform a panel data analysis of 14 daily stock market indices during 01/21/2020 - 06/30/2020 to document a stock market index's negative responsiveness to Covid-19's spread variations. We find that a stock market index's elasticity estimate is -0.028 (p-value <0.01) for local cumulative confirmed cases. As a stock market index tends to move with Covid-19's local and non-local spreads, international efforts of containment are expected to pare stock market losses.

引用

页码：1157 / 1161

页数：5

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