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How has the announcement of the Covid-19 pandemic and vaccine impacted the market?

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How has the announcement of the Covid-19 pandemic and vaccine impacted the market?

dc.contributor.author	Alcaide González, María Ángeles
dc.contributor.author	De la Poza, Elena
dc.contributor.author	Guadalajara Olmeda, Natividad
dc.date.accessioned	2023-10-10T12:04:15Z
dc.date.available	2023-10-11T04:45:08Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Alcaide González, M. Á., De la Poza Plaza, E., & Olmeda, N. G. (2022). How has the announcement of the Covid-19 pandemic and vaccine impacted the market? Economic Research-Ekonomska Istrazivanja, 35(1).	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/90088
dc.description.abstract	As COVID-19 has hit the whole world hard, finding a vaccine that alleviates its effects has been one of the most anticipated events in 2020. This work studies the impact of the two main events in 2020 on companies’ stock exchange activities: announcing COVID-19 as a world pandemic and announcing the first coronavirus vaccine. This study was carried out by an event study methodology using Nasdaq-100 data. Ordinary Least Squares (OLS) and quantile (Q) regression were used to obtain the returns expected from shares and to assess if there were any significant differences in the reactions of the analysed sectors on the market in each event window. The obtained empirical results show different share performances by sectors. Specifically, only those shares from the technology sector positively and significantly reacted to the first announcement. However, the opposite can be stated of the second event insofar as confidence in financial markets recovered to a greater extent in the sectors hardest hit by the first announcement. These conclusions are meaningful for companies, investors and governments to make better decisions or to adopt new policies.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Taylor & Francis	es_ES
dc.subject	COVID-19	es_ES
dc.subject	event study	es_ES
dc.subject	financial performance	es_ES
dc.subject	Nasdaq-100	es_ES
dc.subject	OLS and quantile regression	es_ES
dc.title	How has the announcement of the Covid-19 pandemic and vaccine impacted the market?	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1080/1331677X.2022.2033129	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES