Does COVID-19 pandemic hurt stock prices of solar enterprises?

Wei, Runchu; Chen, Xia; Chang, Chun‐Ping

doi:10.1016/j.eap.2021.07.011

Cited by 8 publications

(7 citation statements)

References 56 publications

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“…This evidence could not be unconnected to the fluctuation in the stock prices which affect the investors' confidence during the period. The result is in line with extant studies (see Rouatbi et al, 2021;Singh et al, 2021;Wei et al, 2021; which conclude that the Covid-19 pandemic changes the structure of stock market capital significantly. In the second regression, stock market capitalization has a significant positive impact on stock prices.…”

Section: Impact Analysis Of Covid-19 Pandemic With Adl-midas Regressionsupporting

confidence: 90%

“…We concluded in support of that the stock markets are most influenced by economic factors during the Covid-19 outbreak which result in a high level of efficiency in the case of Nigeria. However, this finding negates the conclusion of some other studies that the stock markets hit the circuit breaker mechanism severally in March 2020 in the U.S. and that the global stock markets have experienced a major decline during the Covid-19 pandemic (Zhang et al, 2020;Narayan, 2020;Singh et al, 2021;Wei, Chen & Chang, 2021).…”

Section: Efficiency Of Stock Market In the Pre-covid-19 And During Co...contrasting

confidence: 69%

“…Theoretically, the role of the Covid-19 pandemic in the stock market analysis is motivated by the extensively cited stock market efficiency theory or efficient market hypothesis, which suggests that the present stock price on an asset today is its true value, reflecting any data that could drive its price up or down (Ozkan, 2021). The theoretical foundation sees the prevailing health structure in an economy (in this case, the Covid-19 pandemic) as a determinant of stock market performance such that in the production mix, such that labor and capital are affected by the pandemic (see Wei, Chen & Chang, 2021). The most important thing that determines the direction of the stock market is the state of the economy, and the state of the country in which the stock market is based.…”

Section: Methodology and Model Specificationsmentioning

confidence: 99%

“…ISSN 1948-5433 2022 government response stringency index becomes important to explain the comprehensive measure and the intensity of the government response based on specific policy and response categories (Wei, Chen & Chang, 2021). A priori, we expect a negative impact of Covid-19 cases and deaths on stock efficiency, prices, and returns.…”

Section: Research In Applied Economicsmentioning

confidence: 97%

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Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Akinbobola¹,

Awosoga²,

Babalola³

et al. 2022

RAE

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We empirically conducted a distinct analysis of the efficiency of the stock market before and during the Covid-19 pandemic in Nigeria as well as the impact of the Covid-19 pandemic on several indicators of stock market performance. Data were collected on stock variables on monthly basis for the pre-Covid-19 era (2018M02 to 2020M01) and Covid-19 pandemic era (2020M02 to 2022M01) from the Central Bank of Nigeria Statistical Bulletin, while data on the numbers of daily new confirmed cases (New cases and deaths) as well as the government response stringency index on COVID-19 pandemic were obtained from Our World in Data (OWID). We leveraged numerous advantages of the Data Envelopment Analysis (DEA) to estimate stock market efficiency before and during the Covid-19 pandemic for the purpose of comparison. Also, we employed the Autoregressive Distributed Lag Mixed Data Sampling (ADL-MIDAS) approach to conduct the impact analysis of the Covid-19 pandemic on stock market performance. We found that, in terms of efficiency, the stock market was more efficient during the Covid-19 pandemic than in the pre-Covid-19 era, being the only active market among other financial markets especially when several restrictions and total lockdown were imposed. In terms of returns and volatility, the study concluded that the Covid-19 pandemic did not significantly influence Nigeria’s stock market performance negatively. However, the government stringency measures had a significant positive impact on the stock market return in Nigeria. Our findings are instructive to policymaking and financial regulation.

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Section: Impact Analysis Of Covid-19 Pandemic With Adl-midas Regressionsupporting

confidence: 90%

Section: Efficiency Of Stock Market In the Pre-covid-19 And During Co...contrasting

confidence: 69%

Section: Methodology and Model Specificationsmentioning

confidence: 99%

Section: Research In Applied Economicsmentioning

confidence: 97%

See 2 more Smart Citations

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Akinbobola¹,

Awosoga²,

Babalola³

et al. 2022

RAE

View full text Add to dashboard Cite

show abstract

“…Policy makers need to maintain the normal operation of the economy while implementing epidemic prevention and control policies [25]. When enterprises faced the abovementioned problems that cannot be solved by themselves, government financial support was an effective way to help enterprises deal with such problems [26].…”

Section: Introductionmentioning

confidence: 99%

Government Financial Support and Enterprises’ Economic Revitalization and Pollution Discharge Under Normalization of the Epidemic: An Evolutionary Game Analysis Framework

Zhang

Chen

Liu

et al. 2022

Discrete Dynamics in Nature and Society

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The world economy, since the outbreak of the coronavirus epidemic, has undergone profound changes. Especially since the coronavirus became the norm, how to achieve rapid economic revitalization has become a problem that countries have to face. In order to analyze how the government should promote the enterprises’ economic revitalization and effectively control pollution under the normalized epidemic situation, this paper analyzes the economic revitalization and pollution control problems faced by enterprises under the normalized epidemic situation by using the evolutionary game method. Through the analysis of the evolutionary game model, we draw the following conclusions: (1) Discovered by comparing two different incentives mechanism and penalties mechanism, the dynamic incentives mechanism, and penalties mechanism has a better effect on the process of enterprises’ economic revitalization, and it also can reduce the discharge of enterprises’ pollutants. (2) In terms of discharge reduction effect, penalties have a better effect than incentives. Compared with incentives, in the process of the economic revitalization of enterprises, in order to reduce pollution discharge, the government can adopt dynamic penalties strategies. This paper analyzes what the government should do when enterprises face the problems of economic revitalization and pollution control. This study can not only provide suggestions for the government in the process of governance but also provide countermeasures for the economic revitalization of enterprises.

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The market values of Chinese energy firms during COVID-19 pandemic

Shi

2023

MSE

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This paper studies the impact of coronavirus disease 2019 (COVID-19) on Chinese energy firms’ market values by using event study approach. First, we find that the cumulative abnormal return (CAR) of energy firms significantly decreases 2.7–10.6% on average due to the negative shock of COVID-19 on energy market. Second, we present that Corporate Social Responsibility (CSR) performance could significantly reduce the negative market reaction of energy firms during COVID-19. Finally, in using the intervention policy of various cities as exogenous shocks, we provide evidence that stock returns of energy firms significantly increase after cities where firms located in issued lockdown policies.

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Does COVID-19 pandemic hurt stock prices of solar enterprises?

Cited by 8 publications

References 56 publications

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Government Financial Support and Enterprises’ Economic Revitalization and Pollution Discharge Under Normalization of the Epidemic: An Evolutionary Game Analysis Framework

The market values of Chinese energy firms during COVID-19 pandemic

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