TY - JOUR
T1 - COVID-19 Vaccines and Global Stock Markets
AU - Chan, Kam
AU - Chen, Zhuo
AU - Wen, Yuanji
AU - Xu, Tong
PY - 2022/6
Y1 - 2022/6
N2 - Global stock markets react positively when different phases of human clinical trials on COVID-19 vaccines begin. The average abnormal stock return on the first day of the trials is both statistically and economically significant at 8.08 basis points. The increase in the average abnormal stock return is threefold higher for leading vaccine candidates. The positive reaction is more pronounced upon the start of phase III trials, and it is also stronger for vaccine candidates developed by the U.S. and China.
AB - Global stock markets react positively when different phases of human clinical trials on COVID-19 vaccines begin. The average abnormal stock return on the first day of the trials is both statistically and economically significant at 8.08 basis points. The increase in the average abnormal stock return is threefold higher for leading vaccine candidates. The positive reaction is more pronounced upon the start of phase III trials, and it is also stronger for vaccine candidates developed by the U.S. and China.
UR - http://www.scopus.com/inward/record.url?scp=85126279581&partnerID=8YFLogxK
U2 - 10.1016/j.frl.2022.102774
DO - 10.1016/j.frl.2022.102774
M3 - Article
C2 - 35283695
SN - 1544-6123
VL - 47
JO - Finance Research Letters
JF - Finance Research Letters
M1 - 102774
ER -
