COVID-19 Vaccines and Global Stock Markets

Kam Chan; Zhuo Chen; Yuanji Wen; Tong Xu

doi:10.1016/j.frl.2022.102774

COVID-19 Vaccines and Global Stock Markets

Kam Chan
, Zhuo Chen
, Yuanji Wen
, Tong Xu

Finance

Research output: Contribution to journal › Article › peer-review

37 Citations (Scopus)

Abstract

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.

Original language	English
Article number	102774
Journal	Finance Research Letters
Volume	47
Early online date	7 Mar 2022
DOIs	https://doi.org/10.1016/j.frl.2022.102774
Publication status	Published - Jun 2022

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 3 Good Health and Well-being

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10.1016/j.frl.2022.102774

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8898767/

Cite this

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title = "COVID-19 Vaccines and Global Stock Markets",

abstract = "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.",

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AU - Wen, Yuanji

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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.

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COVID-19 Vaccines and Global Stock Markets

Abstract

UN SDGs

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