The Connectedness between COVID-19 and Trading Value in Stock Market: Evidence from Thailand

• 발행기관: 한국유통과학회
• 저자명: Guntpishcha GONGKHONKWA
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.7, 383~391쪽, 전체 9쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.07.30

영문 초록

This study examines the connectedness between the number of COVID-19 cases in Thailand and trading value among investors in the Stock Exchange of Thailand. Daily data of COVID-19 cases and trading value were sourced from the Thailand ministry of public health and the Stock Exchange of Thailand, from January 12, 2020 to May 11, 2021. This study applies a multiple linear regression analysis to explain the relationship between variables. Empirical evidence clearly shows that the volatility of trading value was affected by COVID-19’s new, confirmed, and deaths cases within the first pandemic period more than during the second pandemic period. Nevertheless, during the third pandemic period there is no evidence that the new, confirmed, and deaths cases significantly influenced trading value. Furthermore, the results show that COVID-19’s new and deaths cases have a negative coefficient that indicated the trading value-buy/sell decreased in response to COVID-19’s new and deaths cases, whereas the confirmed COVID-19 cases have a positive coefficient that indicated the trading value-buy/sell increased in response to COVID’s confirmed cases. In summary, this study suggests that the number of COVID-19 cases have a significant impact on the trading value in the short term more than in the intermediate and long term.

목차

1. Introduction

2. Theory and Literature Review

3. Data and Methodology

4. Empirical Results

5. Discussion

6. Conclusion

키워드

Stock Market Trading Value COVID-19 Thailand