The Tehran Stock Exchange Reaction to Covid-19 Outbreak Announcement
نویسندگان
چکیده
While prior research on the Covid-19 effects stock markets focused developed countries, this study aims to examine impact of Iran’s emerging and developing market. The sample comprised 245 companies listed Tehran Stock Exchange (TSE). This uses panel-data regression models evaluate influence announcement returns from February 12th 26th, 2020. results indicate that Coronavirus outbreak in Iran had not caused an abnormal return TSE. In examining event various industries, we have observed other sectors did show reactions through news except for three groups banks, base metals, pharmaceutical companies. Discussion conclusion: findings suggest poor market efficiency Considering TSE is subject macro-variables country, found metal industry converges with global metals. Future implication: investors should pay attention international events affecting industry, which brings new topics focus future research. To investigate long-term effect capital market, suggested use such as GARCH.
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ژورنال
عنوان ژورنال: ?????????: ????????? ? ????????
سال: 2023
ISSN: ['1997-9967', '2663-550X']
DOI: https://doi.org/10.51176/1997-9967-2023-2-204-219