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Death and Contagious Infectious Diseases: Impact of the COVID-19 Virus on Stock Market Returns

Published time: 11 April 2020

Authors: Abdullah M.Al-Awadhi, KhaledAlsaifi, AhmadAl-Awadhi, Salah Alhammadi

Keywords: Stock returns, COVID-19


This study investigates whether contagious infectious diseases affect stock market outcomes. As a natural experiment, we use panel data analysis to test the effect of the COVID-19 virus, which is a contagious infectious disease, on the Chinese stock market. The findings indicate that both the daily growth in total confirmed cases and in total cases of death caused by COVID-19 have significant negative effects on stock returns across all companies.

Death and contagious infectious diseases; Impact of the COVID-19 virus on stock market returns



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