Open AccessDetection on Momentous Robust Impact of Stock Price among All Sectors in Bursa Malaysia towards COVID-19 Pandemic Daily Announcement News
Author(s) -
Nor Edi Azhar Mohamad Noriza Mohd. Saad
Publication year - 2021
Publication title -
psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.112
H-Index - 10
ISSN - 0033-3077
DOI - 10.17762/pae.v58i1.1432
Subject(s) - share price , covid-19 , logistic regression , stock price , economics , regression analysis , event study , business , market share , stock (firearms) , econometrics , financial economics , marketing , stock exchange , finance , statistics , engineering , medicine , paleontology , context (archaeology) , mathematics , disease , pathology , series (stratigraphy) , infectious disease (medical specialty) , biology , mechanical engineering
There is twofold of the study aim: (1) To investigate the reaction trends of stock price in Main Market towards COVID-19 spreads in Malaysia. (2) To investigate the relationship between share price with number of confirmed case of COVID-19 in Malaysia.
This study was tested the reaction of share price based on event study approach and investigate the relationship between share price and COVID-19 using multiple regression approach. Therefore, random effect robust regression model was applied to tackle the dynamic changes in price of stock since the movement is based on daily basis. In Overall, the finding shows that more than half of the sectors’ share price are significant as shown by panel A and have a relationship towards the number of COVID cases for instance, construction, consumer product and services, energy, industrial products & services, property, technology, telecommunication & media and transportation & logistic sector with all indicate negatively association. Meaning that, the higher the number of COVID cases, the lower the share price performance.