Vulnerability of financial markets in India: The contagious effect of COVID-19

被引：30

作者：

Rao, Purnima ^{[1
]}

Goyal, Nisha ^{[2
]}

Kumar, Satish ^{[3
,6
]}

Hassan, M. Kabir ^{[4
]}

Shahimi, Shahida ^{[5
]}

机构：

[1] Fortune Inst Int Business, Finance Area, Delhi 110057, India

[2] Jain Deemed Univ, Ctr Management Studies, Finance Area, Bangalore 560027, Karnataka, India

[3] Malaviya Natl Inst Technol, Dept Management Studies, Jaipur 302017, Rajasthan, India

[4] Univ New Orleans, Dept Econ & Finance, New Orleans, LA 70148 USA

[5] Univ Kebangsaan Malaysia, Fac Econ & Management, Bangi 43600, Selangor, Malaysia

[6] Swinburne Univ Technol, Sch Business, Sarawak 93550, Malaysia

来源：

RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2021年 / 58卷

关键词：

COVID-19; Panel data; Regression; Financial markets; Lockdown; IMPACT;

D O I：

10.1016/j.ribaf.2021.101462

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study aims to examine the impact of COVID-19 on financial markets, using emerging market data. Specifically, panel data regression is applied on 3200 observations for daily market returns during lockdown in India. The event study methodology is adopted to show abnormal returns registered in the lockdown period. A contrasting breakdown effect of COVID-19 on various Indian industries has been observed through sectoral analysis. The study also provides empirical evidence for lockdown measures taken by the government on stock market returns and post lockdown impact of COVID-19 on daily market returns for over 6550 observations.

引用

页数：13

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