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

Cogent business & management, 2021, Vol.8 (1), p.1-18 [Peer Reviewed Journal]

2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. 2021 ;2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. This work is licensed under the Creative Commons Attribution License http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2331-1975 ;EISSN: 2331-1975 ;DOI: 10.1080/23311975.2021.1941587

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  • Title:
    Covid 19 pandemic and Abnormal Stock Returns of listed companies in Vietnam
  • Author: Dang Ngoc, Hung ; Vu Thi Thuy, Van ; Le Van, Chi
  • McMillan, David
  • Subjects: Coronaviruses ; COVID-19 ; Covid-19 pandemic ; earnings ; event study ; firms’ ; firms' performance ; Pandemics ; stock return
  • Is Part Of: Cogent business & management, 2021, Vol.8 (1), p.1-18
  • Description: 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.
  • Publisher: Abingdon: Taylor & Francis
  • Language: English
  • Identifier: ISSN: 2331-1975
    EISSN: 2331-1975
    DOI: 10.1080/23311975.2021.1941587
  • Source: Taylor & Francis Open Access
    Coronavirus Research Database
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
    DOAJ Directory of Open Access Journals
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