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Análisis del impacto de la pandemia COVID-19 en las cotizaciones de las empresas farmacéuticas listadas en el índice NYSE

Author

Listed:
  • Filiberto Enrique Valdés Medina
  • María Luisa Saavedra García
  • Antonio Alejandro Gutiérrez Navarro

Abstract

Este artículo analizó los efectos financieros de la pandemia COVID-19 en las empresas farmacéuticas listadas en el índice de The New York Stock Exchange (NYSE). Se utilizó la metodología de estudio de eventos aplicada a una muestra de cincuenta empresas que conforman el sector farmacéutico del NYSE. Los resulta- dos mostraron evidencia a favor de la eficiencia de este mercado financiero, lo que confirmó que detrás de todo gran fenómeno histórico radica un efecto financiero. Asimismo, pudo demostrarse que los rendimientos bursátiles de las empresas del sector farmacéutico presentaron resultados positivos ante los comunicados de la OMS, relativos al COVID-19. ****** This paper aims to analyse the financial impacts of the COVID-19 pandemic on the pharmaceutical companies listed in the New York Stock Exchange (NYSE) index. The event study methodology is applied to a sample of 50 companies that comprise the pharmaceutical sector of the NYSE. The results present evidence in favour of the efficiency of this financial market, thus confirming that behind all great historical phenomena lies a financial effect; it was possible to demonstrate that the market returns of pharmaceutical companies showed a positive return in the WHO reports on COVID-19.

Suggested Citation

  • Filiberto Enrique Valdés Medina & María Luisa Saavedra García & Antonio Alejandro Gutiérrez Navarro, 2021. "Análisis del impacto de la pandemia COVID-19 en las cotizaciones de las empresas farmacéuticas listadas en el índice NYSE," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 40(85), pages 1033-1053, December.
    • Handle: RePEc:col:000093:020311
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    File URL: https://revistas.unal.edu.co/index.php/ceconomia/article/view/90900
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    More about this item

    Keywords

    COVID-19; sector farmacéutico; mercado eficiente; NYSE.;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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