Does a Government Response to COVID-19 Hurt the Stock Price of an Energy Enterprise?

Haiqing Hu, Di Chen and Qiang Fu

Emerging Markets Finance and Trade, 2022, vol. 58, issue 1, 1-10

Abstract: This research examines the shock of a government response to COVID-19 on the stock prices of 30 international energy enterprises spanning from January 1, 2020 to December 31, 2020. Overall, the empirical results denote that a government response stringency index, containment and health index, and economic support index all have a statistically significant negative impact on their stock prices. The negative impact from the containment and health index is especially the greatest, implying that a government’s stringent responses have great negative effect on the stock prices of most energy enterprises.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:58:y:2022:i:1:p:1-10

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DOI: 10.1080/1540496X.2021.1911803

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