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Covid 19 pandemic and Abnormal Stock Returns of listed companies in Vietnam

Dang Ngoc Faculty of Accounting Auditing, Hanoi University of Industry, Hanoi, Viet Nam|
Chi (57225907748) | Van (57210125506); Le Van | Hung (57201325102); Vu Thi Thuy School of Banking and Finance, National Economics University, Hanoi, Viet Nam|

Cogent Business and Management Số 1, năm 2021 (Tập 8, trang -)

ISSN: 23311975

ISSN: 23311975

DOI: 10.1080/23311975.2021.1941587

Tài liệu thuộc danh mục:

Article

English

Tóm tắt tiếng anh
Covid-19 pandemic is affecting the health of the public, and it is also impacting business and economy. The main objective of this paper is to investigate the impact of Covid-19 pandemic on listed firms’ performance and the abnormal stock returns in Vietnam. To study the impact of Covid-19 on firms’ performance, we collected data about announced earnings on Q1/2020 and Q4/2019 of 714 enterprises and made comparison. The results revealed the enormous impacts of Covid-19 pandemic on the business performance. However, the level of influence varies among sectors. To study the impact of Covid-19 on the abnormal stock returns, the study employed the event research method with 3 events related to Covid-19 pandemic in Vietnam. A sample of 364 companies listed on Ho Chi Minh Stock Exchange (HOSE) was utilized. The findings revealed that the Covid-19 event affects the abnormal returns of stocks and the level of influence varied from each stage of Covid-19 prevention measure in Vietnam. The degrees of influence of the Covid-19 event on each stock were also different. The paper concluded that Covid-19 pandemic information can be used to predict stocks’ prices. © 2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license.

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