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

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  • Hung Dang Ngoc
  • Van Vu Thi Thuy
  • Chi Le Van

Abstract

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.

Suggested Citation

  • Hung Dang Ngoc & Van Vu Thi Thuy & Chi Le Van, 2021. "Covid 19 pandemic and Abnormal Stock Returns of listed companies in Vietnam," Cogent Business & Management, Taylor & Francis Journals, vol. 8(1), pages 1941587-194, January.
    • Handle: RePEc:taf:oabmxx:v:8:y:2021:i:1:p:1941587
    DOI: 10.1080/23311975.2021.1941587
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    Cited by:

    1. Quoc Trung Nguyen Kim, 2023. "Does COVID-19 affect small and medium enterprises’ capital structure in vietnam?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2190268-219, December.
    2. ATM Adnan & Sameer Al Johani, 2023. "Stock Market Reaction to COVID-19: A Cross-Sectional Industry Analysis in Frontier Market," IIM Kozhikode Society & Management Review, , vol. 12(2), pages 157-181, July.
    3. Hung, Dang Ngoc, 2024. "The Impact of Capital Structure on Business Performance of Vietnamese Enterprises During the Covid 19 Pandemic," OSF Preprints 84dae, Center for Open Science.
    4. Olajide O. Oyadeyi & Sodiq Arogundade & Mduduzi Biyase, 2024. "How did African stock markets react to the Russia-Ukraine crisis “black-swan” event? Empirical insights from event study," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    5. Hung, Dang Ngoc, 2022. "Cash Flow And External Financing In The Covid Pandemic Context And Financial Constraints," OSF Preprints bp73t, Center for Open Science.

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