COVID-19 PANDEMIC EVENTS AND PHILIPPINE STOCK MARKET PERFORMANCE: TESTING FOR MULTIPLE BREAKPOINTS

<p>This study examined several PSEi breakpoints to determine if COVID-19-related headlines or events cause significant stock market breaks. From December 2, 2019 May 5, 2022 (T=632), time-series data revealed that the performed worst during first four months of 2020. Regression with ordinary least squares on values Philippine has random walk characteristics for same time period. The Breusch-Godfrey serial correlation LM test at two lags demonstrated in mean equation residuals. During COVID-19 pandemic events, Chow was applied daily identify structural breaks and shifts. Bai-Perron identified noteworthy multi-breakpoints. On April 17, 2020, Leyte reported confirmed case COVID-19, Johns Hopkins University global death toll exceeded 50,000. This event is likely related cutoff dates November 5 6, when Philippines will have an average 1,000 cases per day government specific sectors receive free vaccines under initial procurement. March 23, 2021, 17 mayors Metro Manila neighbouring cities voted unanimously close recreational establishments weeks, indicating a possible parallel September 3, Food Drug Administration approved Moderna 12–17-year-olds. Another breakpoint found October 11, 2021924,300 COVAX donated by United States arrived Ninoy Aquino International Airport. Breakpoint their implications financial economics were discussed. </p><p><strong>JEL</strong>: E32; G11; G14; G17</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/soc/0048/a.php" alt="Hit counter" /></p>