Abstract

VALDES MEDINA, Filiberto Enrique  and  SAAVEDRA GARCIA, María Luisa. Financial Effects of the Covid-19 Pandemic on Stock Prices of Dow Jones Index. Finanz. polit. econ. [online]. 2024, vol.16, n.2, pp.547-573.  Epub Nov 21, 2024. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.v16.n2.2024.9.

The aim of this article was to analyze the financial impact produced of the COVD-19 Pandemic on the companies included in the Dow Jones Industrial Average (DJIA) index. The Event Study technique was applied to 30 entities comprising the DJIA, considering the financial impact of the dates of the World Health Organization (WHO) announcements on stock returns. The results of the analysis demonstrate the existence of favorable evidence regarding the market efficiency of the DJIA. Additionally, it was shown that the stock market returns of the organizations that make up the technology sector have a positive performance in light of reports on health crises disseminated by the WHO.

Keywords : Dow Jones; Covid-19; efficient market; event study methodology.

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