Covid-19 Vaccine: Global Stock Market “Game Changer”

Hartono, Hartono

doi:10.47616/jamrems.v2i2.102

Cited by 9 publications

(10 citation statements)

References 22 publications

(27 reference statements)

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“…Regarding the impact of COVID-19 vaccinations on the forex market, the results listed in Table 4 exhibit strong correlations for all the studied countries, especially in Europe, where the dynamic correlations are very high. This finding confirms previous conclusions regarding the strong impact of the COVID-19 vaccine's development on most developed and emerging markets (Vierlboeck and Nilchiani, 2021;Hartono, 2021;Kucher et al, 2021;Chan et al, 2021). Our results also corroborate the findings of the few existing articles regarding the study of the COVID-19 vaccination campaign on financial markets.…”

supporting

confidence: 92%

COVID-19 impacts on financial markets: Takeaways from the third wave

Bouhali¹,

Dahbani

Dinar³

2021

RUJEC

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This study provides an updated analysis of the impact of COVID-19 daily contaminations and vaccinations on the financial markets by incorporating the third wave observed in 2021. Our methodology is based on a comparative approach using a multivariate heteroscedasticity model and data from the Eurozone and ten other countries from different economies. Our results show that COVID-19 contaminations and vaccinations strongly affected most of the countries in our sample (except for the UK, Russia and India in the case of COVID-19 contaminations). We also found that optimistic market sentiment concerning the evolution of the pandemic prevailed among the countries forming our sample (except for Switzerland, Russia and India).

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supporting

confidence: 92%

COVID-19 impacts on financial markets: Takeaways from the third wave

Bouhali¹,

Dahbani

Dinar³

2021

RUJEC

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“…Besides, many studies prove that mass campaign about Covid-19 vaccines receives positive sentiments from investors. [23][24][25][26] Therefore, the approvals of Covid-19 vaccines lighted the hope of humanity and economic recovery, and this phenomenon is reflected in the stock market. 14,25 However, none of them consider the existence of cross-dependency and heterogeneity problems.…”

Section: Background and Literature Reviewmentioning

confidence: 99%

The stock market reaction to COVID-19 vaccination in ASEAN

et al. 2023

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Previous studies have shown that the confirmed cases drive investor sentiment, reflecting the stock's return. Based on this, the vaccination growth is also expected to drive the investor’s sentiment, which can be reflected in the return of the stock market in ASEAN. Therefore, this study explores the vaccination impact on stock returns in ASEAN countries. This study contributes to the gap of taking the COVID-19 vaccination impact to the stock return into account by using the panel regression model with HC and Driscoll and Kraay robust covariance matrix estimator, which addresses the cross-dependency and heterogeneity problems. This study is one of the early studies of the topic, especially in ASEAN. The panel regression model with HC and Driscoll and Kraay robust covariance matrix estimator uses three variables: the daily stocks return, vaccine growth, and cases growth. It is a balanced panel data that includes six countries and 117 daily series data, making 702 observations used in the study. The results show conflicting results where daily vaccination growth negatively affects the stock return. This problem can arise for several reasons, such as the uncertainty in the financial market and cross-dependency and heterogeneity detected in the model. We can see that the investors still have a negative sentiment because COVID-19 has resulted in uncertainty on the financial market in ASEAN. This gives us practical implications that the ASEAN country members’ government needs to push vaccination policy more aggressively.

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“…Similar to Rouatbi et al (2021) , this study also showed that the influence of vaccination on energy stocks of developed countries is more pronounced than that of emerging countries. Hartono (2021) examines the effect of the presence of a Covid-19 vaccine on investor sentiment and the performance of global stock markets after being hit by heightened concerns due to the pandemic. The results suggested that each stage of vaccine development receives high praise from stock investors, especially after vaccine candidates pass human clinical trials.…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of COVID-19 vaccination on stock market: is there any difference between developed and developing countries?

Oanh

2022

Heliyon

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Covid-19 Vaccine: Global Stock Market “Game Changer”

Cited by 9 publications

References 22 publications

COVID-19 impacts on financial markets: Takeaways from the third wave

COVID-19 impacts on financial markets: Takeaways from the third wave

The stock market reaction to COVID-19 vaccination in ASEAN

The impact of COVID-19 vaccination on stock market: is there any difference between developed and developing countries?

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