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

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

Economics Letters, 2022, vol. 215, issue C

Abstract: This paper investigates the Chinese stock market reactions to the announcements of Covid-19 vaccine approvals. These announcements generally impacted stock prices, but the impacts appeared to be heterogeneous across sectors. Particularly, firms in the manufacturing, wholesale, retail, and information technology sectors were persistently benefited. We also find that firms with poorer performance, smaller sizes, and greater ages reacted more positively compared to others.

Keywords: COVID-19; Vaccine news; Stock market returns (search for similar items in EconPapers)
JEL-codes: G14 I18 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:215:y:2022:i:c:s0165176522001069

DOI: 10.1016/j.econlet.2022.110466

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