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An ARDL approach: case study of COVID-19 death and insurance stock returns

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  • Himani Gupta
  • Shalini Singh
  • Renu Bala
  • Bhavna Sharma

Abstract

The movement of investment vehicles helps investors communicate as a stock market shield via a diverse portfolio. The COVID-19 outbreak had impacted the India along with other countries across the globe. The disease's progression and economic impact are highly uncertain. The current study is a novel effort to untangle the dynamic relationship between COVID-19 death and returns of NSE-listed life insurance stocks. We look at COVID-19 death data as well as returns from SBI Life, HDFC Life, and ICICI PRU from April 2020 to July 2021, when pandemic was the leading cause of death. Using the autoregressive distributed lag (ARDL) model technique, we discover that COVID-19 death has no dynamic relationship with the returns of selected life insurance stocks. In conclusion, our findings will provide stockholders, investment advisors, and policy experts with significant foresight into guaranteeing returns on life insurance stocks free from uncertain calamities such as COVID-19.

Suggested Citation

  • Himani Gupta & Shalini Singh & Renu Bala & Bhavna Sharma, 2025. "An ARDL approach: case study of COVID-19 death and insurance stock returns," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 41(2), pages 156-177.
    • Handle: RePEc:ids:ijbglo:v:41:y:2025:i:2:p:156-177
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