THE EFFECTS OF CORONAVIRUS PANDEMIC ON 8 INDUSTRY GROUP INDICES IN THE STOCK EXCHANGE OF THAILAND
Keywords:
Event Study, Industry Group Indices, COVID-19Abstract
The aim of this research was to investigate the impact of the coronavirus pandemic on the yields of industry indices of 8 groups on the Stock Exchange of Thailand by using event studies as an empirical research testing tool. The study was conducted in the period from 13 January 2020 to 2 April 2020. The results revealed that the coronavirus pandemic had a statistically significant impact on two industry groups, the financial sector and the technology sector. There was negative impact on the average abnormal returns (AAR) and cumulative abnormal returns (CAR) of the financial sector, while the technology sector was positive. This suggests that under the circumstances of the coronavirus pandemic, the overall economy will be affected. However, it still benefits certain industries such as the technology sector that can still create opportunities for investors in the short term.
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