Economics and Business
ISSN 2775-9237 (Online)
Published: 12 August 2020
The Effect of WHO COVID-19 Announcement on Asian Stock Markets Returns: An Event Study Analysis
Musaed Sulaiman AlAli
The Public Institute of Applied Education and Training (PAAET), Kuwait
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Keywords: COVID-19, Asian Stock Markets, Event Study, Pandemic, Stock Markets Returns.
This study aims to examine the effect of World Health Organization (WHO) declaring COVID-19 as a global pandemic on the stock market returns of the five largest Asian stock markets using event study analysis. Results obtained from this research shows that the WHO announcement had a significant negative effect on stock markets returns on major Asian stock markets.
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