The Response of the Stock Market to the Announcement of Global Pandemic

被引：79

作者：

Liu, Min ^{[1
,2
]}

Choo, Wei-Chong ^{[2
]}

Lee, Chien-Chiang ^{[1
,3
]}

机构：

[1] Nanchang Univ, Sch Econ & Management, Nanchang, Jiangxi, Peoples R China

[2] Univ Putra Malaysia, Sch Business & Econ, Seri Kembangan, Malaysia

[3] Nanchang Univ, Res Ctr Cent China Econ & Social Dev, Nanchang, Jiangxi, Peoples R China

来源：

EMERGING MARKETS FINANCE AND TRADE | 2020年 / 56卷 / 15期

关键词：

COVID-19; global pandemic; stock market; stringency index; event study;

D O I：

10.1080/1540496X.2020.1850441

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This research aims at investigating the response of the stock market to the WHO announcement on 11(th) of March 2020 which officially declares the spread of the COVID-19 virus as a global pandemic. A total of 77 countries' major indices have been examined by this research. The results show that (1) the pandemic announcement provides considerable negative shock on the global stock market; (2) country with different income presents a different response to the announcement. In general, the stock market in higher-income country tends to be overreacted at the beginning and bounds back more rapidly than lower-income country.

引用

页码：3562 / 3577

页数：16

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