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COVID-19 and the Stock Market


Ramelli, Stefano; Wagner, Alexander (2020). COVID-19 and the Stock Market. In: Billio, Monica; Varotto, Simone. A new world post COVID-19 : Lessons for business, the finance industry and policy makers. Venice: Ca’ Foscari University Press, 111-124.

Abstract

When disaster strikes, the weak suffer mightily, the strong only slightly. That is the lesson from stock market reactions to COVID-19. Strong firms had a robust financial position, advanced environmental and social performance, and were not severely ex-posed to social distancing and lockdowns. Firms with significant international exposure suffered more, at least at first. The ultimate effects of policy inter ventions, including those by central banks, have yet to be revealed. The market recovery in the second quarter of 2020 is like a patient recovering from COVID-19: hopeful but still uncertain. Managers and policymakers should project the future with great caution.

Abstract

When disaster strikes, the weak suffer mightily, the strong only slightly. That is the lesson from stock market reactions to COVID-19. Strong firms had a robust financial position, advanced environmental and social performance, and were not severely ex-posed to social distancing and lockdowns. Firms with significant international exposure suffered more, at least at first. The ultimate effects of policy inter ventions, including those by central banks, have yet to be revealed. The market recovery in the second quarter of 2020 is like a patient recovering from COVID-19: hopeful but still uncertain. Managers and policymakers should project the future with great caution.

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Additional indexing

Item Type:Book Section, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:2020
Deposited On:26 Jan 2021 15:17
Last Modified:26 Jan 2021 15:19
Publisher:Ca’ Foscari University Press
ISBN:978-88-6969-442-4
OA Status:Green
Free access at:Official URL. An embargo period may apply.
Official URL:https://edizionicafoscari.unive.it/media/pdf/books/978-88-6969-443-1/978-88-6969-443-1-ch-08_QIy5XEK.pdf
Other Identification Number:merlin-id:19594

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