Stock market vulnerability to the Covid-19 pandemic: Evidence from emerging Asian stock markets

Ayoub Rabhi

MPRA Paper from University Library of Munich, Germany

Abstract: This paper studies empirically the emerging Asian stock market vulnerability to pandemics. Taking the Covid-19 virus as a case study, we used the ARDL panel data approach to investigate the impact of the daily Covid-19 confirmed cases along with a behavioral component based on a triggering fear event related to news about Covid-19 deaths. The results indicate that both the reported daily growth of Covid-19 confirmed cases along with the triggering fear event related to news about death, affected the Asian stock markets performance negatively, other variables such as oil price, gold price, exchange rates, and the U.S stock market were also found to be determinants of the Asian stock markets during the studied period.

Keywords: Behavioral finance; Covid-19; Event study; Pandemic; Stock market (search for similar items in EconPapers)
JEL-codes: C4 C5 G1 G10 G15 (search for similar items in EconPapers)
Date: 2020-04
New Economics Papers: this item is included in nep-cfn, nep-fmk and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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https://mpra.ub.uni-muenchen.de/123856/1/MPRA_paper_101774.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/123857/1/MPRA_paper_101774.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101774

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