THE COVID-19 PANDEMIC AND INDIAN PHARMACEUTICAL COMPANIES: AN EVENT STUDY ANALYSIS

Rath, Badri Narayan and Behera, Chinmaya (2021) THE COVID-19 PANDEMIC AND INDIAN PHARMACEUTICAL COMPANIES: AN EVENT STUDY ANALYSIS. Buletin Ekonomi Moneter dan Perbankan, 24. pp. 1-14. ISSN 1410-8046

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Abstract

Although there is a plethora of studies which examine the impact of the COVID-19 pandemic on India's financial sector, we contribute by investigating the effect of the ongoing COVID-19 pandemic on stock returns of Indian pharmaceutical companies. By employing an event study methodology, our results indicate that the average returns of the pharmaceutical sector are positive during the COVID-19 phase although mixed evidence is found at the firm level. This finding is also robust to alternative model specifications.

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IITH Creators:	IITH Creators ORCiD Rath, Badri Narayan http://orcid.org/0000-0001-7211-0952
Item Type:	Article
Uncontrolled Keywords:	COVID-19; Event study analysis; Pharmaceutical companies; Risk; Stock return
Subjects:	Social sciences
Divisions:	Department of Liberal Arts
Depositing User:	. LibTrainee 2021
Date Deposited:	08 Jul 2021 04:31
Last Modified:	08 Jul 2021 04:31
URI:	http://raiithold.iith.ac.in/id/eprint/8163
Publisher URL:	http://doi.org/10.21098/BEMP.V24I0.1483
Related URLs:	Author

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