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

Authors

Chinmaya Behera, Goa Institute of Management, IndiaFollow
Badri Narayan Rath, IIT Hyderabad, IndiaFollow

Document Type

Article

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.

Recommended Citation

Behera, Chinmaya and Rath, Badri Narayan (2021) "THE COVID-19 PANDEMIC AND INDIAN PHARMACEUTICAL COMPANIES: AN EVENT STUDY ANALYSIS," Bulletin of Monetary Economics and Banking: Vol. 24: No. 0, Article 5.
DOI: https://doi.org/10.21098/bemp.v24i0.1483
Available at: https://bulletin.bmeb-bi.org/bmeb/vol24/iss0/5

First Page

1

Last Page

14

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License

Country

India

Affiliation

Goa Institute of Management