Impact of COVID-19 Pandemic on the Financial Performance of Healthcare Firms listed on Thailand Stock Exchange

Ek-anong Tangrukwaraskul () and Kiriya Kulchanarat ()
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Ek-anong Tangrukwaraskul: Kasetsart University
Kiriya Kulchanarat: Kasetsart University

No 14115983, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: Healthcare services in Thailand are profoundly promoted and aimed to be Asia?s capital of health and wellness since 2015. Revenues from medical tourists accelerated growth in the private hospitals, many of those are listed on the stock exchange. During the COVID-19 pandemic, economic activities including travel and tourism, were brought to a halt resulting in a decline in the number of medical tourists. However, domestic demand for medical services significantly increased. This paper investigates how healthcare firms listed in Thailand stock market perform before and during the pandemic. Panel data during the year 2015 ? 2018 represents pre-pandemic period and the year 2019 ? 2022 represents pandemic period. Data from financial reports was analyzed using pooled ordinary least square (OLS) regression. Effects of firms? operation towards their financial performance before and during the pandemic are examined.

Keywords: Financial Performance; Financial Ratio; Healthcare Sector; the Stock Exchange of Thailand; COVID-19 pandemic (search for similar items in EconPapers)
JEL-codes: F65 L25 L80 (search for similar items in EconPapers)
Pages: 8 pages
New Economics Papers: this item is included in nep-sea
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Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Prague, Nov -0001, pages 380-387

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