Al-Awadhi Abdullah M, Alsaifi Khaled, Al-Awadhi Ahmad, Alhammadi Salah
College of Business Studies, Public Authority for Applied Education and Training (PAAET), Kuwait.
Kuwait Consultancy Group, Kuwait.
J Behav Exp Finance. 2020 Sep;27:100326. doi: 10.1016/j.jbef.2020.100326. Epub 2020 Apr 8.
This study investigates whether contagious infectious diseases affect stock market outcomes. As a natural experiment, we use panel data analysis to test the effect of the COVID-19 virus, which is a contagious infectious disease, on the Chinese stock market. The findings indicate that both the daily growth in total confirmed cases and in total cases of death caused by COVID-19 have significant negative effects on stock returns across all companies.
本研究调查传染性传染病是否会影响股票市场表现。作为一项自然实验,我们使用面板数据分析来检验作为一种传染性传染病的新冠病毒对中国股票市场的影响。研究结果表明,新冠病毒确诊病例总数和死亡病例总数的每日增长对所有公司的股票回报均有显著负面影响。