2020
DOI: 10.1080/1540496x.2020.1850441
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The Response of the Stock Market to the Announcement of Global Pandemic

Abstract: 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 higherin… Show more

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Cited by 102 publications
(45 citation statements)
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“…Bahkan Ding et al, (2020) menjelaskan banyak usaha besar yang melaporkan kebangkrutan akibat adanya covid-19. Keadaan ketidakpastian ini oleh Liu et al, (2020) dianalogikan dengan keadaan yang terjadi seperti 9/11 di United State, peristiwa ledakan nuklir, dan pandemi influenza pada tahun 1918. Namun perbedaan mendasar antara kasus covid-19 dengan peristiwa besar lainnya adalah untuk pertama kalinya dunia menghadapi peristiwa seperti ini melakukan lockdown yang mana ini menjadi penyebab utama terjadinya financial distress (Singh, 2020).…”
Section: A Pendahuluanunclassified
“…Bahkan Ding et al, (2020) menjelaskan banyak usaha besar yang melaporkan kebangkrutan akibat adanya covid-19. Keadaan ketidakpastian ini oleh Liu et al, (2020) dianalogikan dengan keadaan yang terjadi seperti 9/11 di United State, peristiwa ledakan nuklir, dan pandemi influenza pada tahun 1918. Namun perbedaan mendasar antara kasus covid-19 dengan peristiwa besar lainnya adalah untuk pertama kalinya dunia menghadapi peristiwa seperti ini melakukan lockdown yang mana ini menjadi penyebab utama terjadinya financial distress (Singh, 2020).…”
Section: A Pendahuluanunclassified
“…Few articles identified the most affected sectors of stock markets due to COVID-19. Liu et al [54] and He et al [53] argued that transportation, tourism, mining, and catering companies are biggest losers during pandemic in short and long run. Whereas financial sector is the most affected sector in Veitnam while overall stock market crashed with increase in number of coronavirus cases [18].…”
Section: Sector-wise Impact Of Covid-19 In Stock Marketsmentioning
confidence: 99%
“…After the outbreak of the Covid-19, investigations about the impacts of the Covid-19 epidemic on the economy have become a research focus, and many scholars have studied the topic from diversified aspects. For example, Liu et al (14) argued that Covid-19 provides considerable negative shock on the global stock market, and besides, these impacts vary between higher-income and lower-income countries. However This paper is also related to a vast body of literature on the relationships between different financial markets.…”
Section: Related Literaturementioning
confidence: 99%