NDLI: Does Stock Market Respond to Disease Pandemic? A Case of COVID-19 in Nigeria

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Does Stock Market Respond to Disease Pandemic? A Case of COVID-19 in Nigeria

Content Provider	Scilit
Author	Kumeka, Terver Theophilus Falayi, Olabusuyi Rufus Adedokun, Adeniyi Jimmy
Copyright Year	2021
Abstract	This paper investigates whether stock markets respond to disease pandemic referencing the case of COVID-19 in Nigeria. The paper employs three cointegrating regression models: Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Canonical Cointegrating Regression to analyse the effect of growth in total COVID-19 confirmed cases and related deaths in Nigeria and across the globe from 27 February 2020 to 4 September 2020 on the stock market performance. Key findings support the presence of long-run association between stock market returns and COVID-19 in Nigeria. The stock market is found to respond negatively to both domestic and global growths in total confirmed cases and deaths of COVID-19. Consequently, affected businesses in Nigeria should be assisted and bailed out by the government through practices such as tax filing, subsidies, targeted spending, and credit.
Related Links	https://www.sciendo.com/pdf/10.2478/auseb-2021-0005
e-ISSN	23600047
DOI	10.2478/auseb-2021-0005
Journal	Acta Universitatis Sapientiae, Economics and Business
Issue Number	1
Volume Number	9
Language	English
Publisher	Walter de Gruyter GmbH
Publisher Date	2021-09-01
Access Restriction	Open
Subject Keyword	Acta Universitatis Sapientiae, Economics and Business Mathematical Social Sciences Stock Market Nigeria Covid Ordinary Cointegrating Pandemic Respond Models Journal: Acta Universitatis Sapientiae, Economics and Business, Issue- 2
Content Type	Text
Resource Type	Article

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