COVID-19 vaccines and global stock markets

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...

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Detalles Bibliográficos
Autores principales: Chan, Kam Fong, Chen, Zhuo, Wen, Yuanji, Xu, Tong
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Published by Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8898767/
https://www.ncbi.nlm.nih.gov/pubmed/35283695
http://dx.doi.org/10.1016/j.frl.2022.102774
Descripción
Sumario: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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