The Impact of COVID19 Spread on the Listed Egyptian Banks Stock Market Returns | ||||
| Journal of Advances in Economics and Business Studies | ||||
| Volume 1, Issue 1, October 2024, Page 81-93 PDF (451.35 K) | ||||
| Document Type: Original Article | ||||
| DOI: 10.21608/jaebs.2024.386336 | ||||
 View on SCiNiTO | ||||
| Author | ||||
| Ihab Raouf Petro | ||||
| Finance Department, Faculty of Economics and International Trade | ||||
| Abstract | ||||
| The purpose of this study is to investigate the impact of COVID-19 spread on banking listed stocks market return during the period December 31st, 2012, till December 31st, 2021. Stock market returns have been measured by ln(pt/pt-1), COVID-19 spread has been measured by ln of (new cases, cumulative new cases, new deaths, and cumulative deaths) / Egypt’s population / one million. This has been applied on 10 listed Egyptian banks in EGX30, EGX70, Banking sector index (Commercial, and Islamic Banks). Data collected from investing .com, and World Health Organization COVID-19 database. Results indicate that banks stock market returns in Egypt tend to be negatively affected Coronavirus new cases and Coronavirus cumulative cases. After splitting the research period into 8 quarters (Jan 1st, 2020 – Dec 31st, 2021), results support the impact of new cases and cumulative new cases in quarter 1 (Jan 1st, 2020 – Mar 31st, 2020) on banks’ stock market returns. Results supported using panel analysis according to GMM technique using fixed and random effect models, for the whole research period and sub periods. Hausman-test applied and indicate that the random effect model is the appropriate regression model. | ||||
| Keywords | ||||
| COVID-19 spread; Stock market Return; EGX Indices; Egyptian Banks; panel data; GMM Technique | ||||
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