Covid-19 vaccine approvals and stock market returns: The case of Chinese stocks

Ho, Ken C.; Gao, Yibo; Gu, Qiying; Yang, Da

doi:10.1016/j.econlet.2022.110466

Cited by 16 publications

(6 citation statements)

References 11 publications

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“…The vaccine index has positive impact on stock prices. This result supports the study by Ho et al . (2022).…”

Section: Resultssupporting

confidence: 94%

On the effect of COVID-19 and policy uncertainty on the stock market: evidence from India

Adil,

Haider

2023

IJSE

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PurposeThe present study empirically examines the impact of coronavirus disease 2019 (COVID-19) and policy uncertainty on stock prices in India during the COVID-19 pandemic.Design/methodology/approachTo this end, the authors use the daily data by applying the autoregressive distributed lag (ARDL) model, which tests the short- and long-run relationship between stock price and its covariates.FindingsThe study finds that increased uncertainty has adverse short- and long-run effects on stock prices, while the vaccine index has favorable effects on stock market recovery.Practical implicationsFrom investors' perspectives, volatility in the Indian stock market has negative repercussions. Therefore, to protect investors' sentiments, policymakers should be concerned about the uncertainty induced by the COVID-19 pandemic and similar other uncertainty prevailing in the financial markets.Originality/valueThis study used the news-based COVID-19 index and vaccine index to measure recent pandemic-induced uncertainty. The result carries some policy implications for an emerging economy like India.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0244

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“…The vaccine index has positive impact on stock prices. This result supports the study by Ho et al . (2022).…”

Section: Resultssupporting

confidence: 94%

On the effect of COVID-19 and policy uncertainty on the stock market: evidence from India

Adil,

Haider

2023

IJSE

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“… Chan et al (2022) find that prior to public inoculation, news of clinical trials on COVID-19 vaccines positively affects global equity returns. Similar findings were reported by Ho et al (2022) , who investigated the announcement effect of vaccine approvals on Chinese stock returns at the sectoral level. However, to our knowledge, few studies have discussed the impact of the COVID-19 vaccination on risk spillovers among regional and global stock markets.…”

Section: Introductionsupporting

confidence: 85%

COVID-19 vaccinations and risk spillovers: Evidence from Asia-Pacific stock markets

Shi

et al. 2023

Pacific-Basin Finance Journal

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“…Por último, se presentan los estudios más recientes que incorporaron el análisis de la información sobre las distintas vacunas contra COVID-19 (ver Tabla 5), como las búsquedas sobre el tema en Internet (Cevik et al, 2022), el desarrollo de ensayos de nuevas vacunas (Bakry et al, 2022;Chan et al, 2022), la aprobación de las vacunas por parte de Gobiernos (Ho et al, 2022), y la tasa de vacunación (Khalfaoui et al, 2022). Todos coincidieron en que la información sobre las vacunas afectó positivamente el rendimiento, aunque este efecto fue mayor en países desarrollados que en emergentes (Chan et al, 2022).…”

Section: Mendozaunclassified

Eventos informativos sobre COVID-19 y su efecto en índices bursátiles. Una revisión de la evidencia empírica

2023

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Este artículo sistematizó los estudios empíricos sobre efectos, de distintos eventos relacionados con la pandemia por COVID-19, en índices bursátiles. Se identificaron dos marcos conceptuales: eficiencia del mercado de capitales y finanzas conductuales. La revisión de la literatura, con una instancia de tipo sistemática y otra complementaria de naturaleza narrativa, mostró que los eventos informativos fueron sanitarios (anuncios de la Organización Mundial de la Salud, evolución de la pandemia, vacunas) y no sanitarios (medidas gubernamentales). El análisis concluye que, respecto a los índices bursátiles, el avance de la pandemia tuvo un efecto inicial negativo en los rendimientos, y positivo en la volatilidad. La comparación entre economías desarrolladas y emergentes indica que las repercusiones de las noticias son desiguales.

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Covid-19 vaccine approvals and stock market returns: The case of Chinese stocks

Cited by 16 publications

References 11 publications

On the effect of COVID-19 and policy uncertainty on the stock market: evidence from India

On the effect of COVID-19 and policy uncertainty on the stock market: evidence from India

COVID-19 vaccinations and risk spillovers: Evidence from Asia-Pacific stock markets

Eventos informativos sobre COVID-19 y su efecto en índices bursátiles. Una revisión de la evidencia empírica

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