Η επίδραση της πανδημίας COVID-19 στο χρηματιστήριο. Μελέτη - περίπτωση με σύγκριση αποτελεσμάτων πριν και μετά την πανδημία
The impact of the COVID-19 pandemic on the stock market. Case study comparison of results before and after the pandemic
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Keywords
Χρηματιστηριακές αγορές ; Πανδημία ; COVID-19 ; Sharpe ratio ; CAPMAbstract
The COVID-19 pandemic has brought innumerable changes, not only in people's
daily lives, but in all sectors, as well as in the economy. In the present study, data
from four shares of the medical-pharmaceutical sector that are listed on the New York
Stock Exchange were examined, in order to see if they were affected in any way by
the announcement of the WHO, to upgrade COVID-19 disease to a pandemic. An
examination of the CAPM model and the results of the Sharpe index showed that the
shares appeared to have improved significantly in the post-announcement period.
Nevertheless, the numbers remained quite low, indicating the seriousness of the
problems created by the pandemic in the stock markets. The conclusions drawn from
this work should serve the interested investors in order to make better decisions,
especially in cases where the economies are entering a recession by external factors.