The Effect of WHO COVID-19 Announcement on Asian Stock Markets Returns: An Event Study Analysis
Journal: Journal of Economics and Business (Vol.3, No. 3)Publication Date: 2020-09-30
Authors : Musaed Sulaiman AlAli;
Page : 1051-1054
Keywords : COVID-19; Asian Stock Markets; Event Study; Pandemic; Stock Markets Returns.;
Abstract
This study aims to examine the effect of World Health Organization (WHO) declaring COVID-19 as a global pandemic on the stock market returns of the five largest Asian stock markets using event study analysis. Results obtained from this research shows that the WHO announcement had a significant negative effect on stock markets returns on major Asian stock markets.
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