Stock price performance of pharmaceutical companies: pre-vaccine COVID-19 - post-vaccine COVID-19
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Published:2022-01-31
Issue:
Volume:
Page:68-93
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ISSN:1988-9046
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Container-title:Revista de Estudios Empresariales. Segunda Época
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language:
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Short-container-title:ReE
Author:
Vera Ramírez Henry Daniel,Valencia Serna Ferly Antonio
Abstract
This paper performs an analysis of the behaviour of the shares of the main pharmaceutical companies that research to obtain vaccines with a high degree of efficacy for COVID-19. A multiple regression econometric model is proposed, which relates stock prices to the impact of vaccine development on stock prices, including a dummy variable -over the time series- in the analysis. The results suggest significant associations between some pharmaceutical companies that developed vaccines in record time in the period analysed and an impact on the sector’s earnings performance.
Publisher
Universidad de Jaen