THE COVID-19 PANDEMIC AND INDIAN PHARMACEUTICAL COMPANIES: AN EVENT STUDY ANALYSIS

Chinmaya Behera and Badri Rath

Bulletin of Monetary Economics and Banking, 2021, vol. 24, issue Special Issue, 1-14

Abstract: Although there is a plethora of studies which examine the impact of the COVID-19 pandemic on India’s financial sector, we contribute by investigating the effect of the ongoing COVID-19 pandemic on stock returns of Indian pharmaceutical companies. By employing an event study methodology, our results indicate that the average returns of the pharmaceutical sector are positive during the COVID-19 phase although mixed evidence is found at the firm level. This finding is also robust to alternative model specifications.

Keywords: COVID-19; Pharmaceutical companies; Risk; Stock return; Event study analysis (search for similar items in EconPapers)
JEL-codes: G11 G15 G18 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://bulletin.bmeb-bi.org/cgi/viewcontent.cgi?article=1034&context=bmeb (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:24:y:2021:i:spc:p:1-14

DOI: 10.21098/bemp.v24i0.1483

Access Statistics for this article

Bulletin of Monetary Economics and Banking is currently edited by Paresh Narayan

More articles in Bulletin of Monetary Economics and Banking from Bank Indonesia Contact information at EDIRC.
Bibliographic data for series maintained by Lutzardo Tobing ( this e-mail address is bad, please contact ) and Jimmy Kathon ().