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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. 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.
    2. 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.
    3. 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.
    4. 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.
    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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