Titulo:
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones
.
Sumario:
El objetivo fue analizar los efectos financieros producidos por la Pandemia COVD-19 en las empresas que integran el índice Dow Jones Industrial Average (DJIA). Se realizó la aplicación de la técnica Estudio de Eventos, a 30 entidades que conforman el DJIA, considerando el impacto financiero de las fechas de los comunicados de la Organización Mundial de la Salud (OMS) en los rendimientos accionarios. Los resultados del análisis prueban la existencia de evidencia favorable con relación a la eficiencia de mercado del DJIA, además, se pudo demostrar que los beneficios bursátiles de las organizaciones que integran el sector tecnología, tienen un rendimiento positivo ante los informes sobre crisis sanitarias difundidos por la OMS.
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Maria Luisa Saavedra García, Filiberto Enrique Valdés Medina - 2024
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Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones Kumar, A., Zarychanski, R., Pinto, R., Cook, D. J., Marshall, J., Lacroix, J., & Canadian Critical Care Trials Group H1N1 Collaborative (2009). Critically ill patients with 2009 influenza A (H1N1) infection in Canada. Jama, 302(17), 1872-1879. https://doi.org/10.1001/jama.2009.1496 Patell, J. (1976). Corporate forecasts of earnings per share and stock price behavior: Empirical test. Journal of Accounting Research, 14(2), 246-276. https://doi.org/10.2307/2490543 Oler, D. K., Harrison, J. S., & Allen, M. R. (2008). The danger of misinterpreting short-window event study findings in strategic management research: An empirical illustration using horizontal acquisitions. Strategic Organization, 6(2), 151-184. https://doi.org/10.1177/1476127008090008 Mnif, E., Salhi, B., & Jarboui, A. (2020). Herding behaviour and Islamic market efficiency assessment: case of Dow Jones and Sukuk market. International Journal of Islamic and Middle Eastern Finance and Management, 13(1), 24-41. https://doi.org/10.1108/IMEFM-10-2018-0354 Mishra, P., & Mishra, S. (2020). Corona Pandemic and Stock Market Behaviour: Empirical Insights from Selected Asian Countries. Millennial Asia, 11(3), 341-365. https://doi.org/10.1177/0976399620952354 Md Rajib, K., Ferdous, M., & Mozaffar, M. (2022). Stock market reactions of Maritime shipping industry in the time of COVID-19 pandemic crisis: An empirical investigation. Maritime Policy & Management, 49(8), 1184-1199. https://doi.org/10.1080/03088839.2021.1954255 McMillen, C. (2016). Pandemics: A Very Short Introduction. Oxford University Press. Maul, D., & Schiereck, D. (2017). The bond event study methodology since 1974. Review of Quantitative Finance and Accounting, 48, 749-787. https://doi.org/10.1007/s11156-016-0562-4 MacKinlay, A. C. (1997). 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Semiparametric Difference-in-Differences Estimators. The Review of Economic Studies, 72(1), 1-19. Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. Maria Luisa Saavedra García, Filiberto Enrique Valdés Medina - 2024 Hahn, J., Todd, P., & Van der Klaauw, W. (2001). Identification and Estimation of Treatment Effects with a Regression Discontinuity Design. Econometrica, 69(1), 201-209. Español https://revfinypolecon.ucatolica.edu.co/article/view/5726 Revista Finanzas y Política Económica Universidad Católica de Colombia Artículo de revista Abadie, A., Diamond, A., & Hainmueller, J. (2015). Comparative Politics and the Synthetic Control Method. American Journal of Political Science, 59(2), 495-510. 2 16 Estudio de Eventos Mercado eficiente Covid 19 Dow Jones Valdés Medina, Filiberto Enrique Saavedra García, Maria Luisa El objetivo fue analizar los efectos financieros producidos por la Pandemia COVD-19 en las empresas que integran el índice Dow Jones Industrial Average (DJIA). Se realizó la aplicación de la técnica Estudio de Eventos, a 30 entidades que conforman el DJIA, considerando el impacto financiero de las fechas de los comunicados de la Organización Mundial de la Salud (OMS) en los rendimientos accionarios. Los resultados del análisis prueban la existencia de evidencia favorable con relación a la eficiencia de mercado del DJIA, además, se pudo demostrar que los beneficios bursátiles de las organizaciones que integran el sector tecnología, tienen un rendimiento positivo ante los informes sobre crisis sanitarias difundidos por la OMS. Abadie, A., Diamond, A., & Hainmueller, J. (2010). Synthetic Control Methods for Comparative Case Studies: Estimating the Effect of California's Tobacco Control Program. Journal of the American Statistical Association, 105(490), 493-505. https://creativecommons.org/licenses/by-nc-sa/4.0 Abadie, A., & Gardeazabal, J. (2003). The Economic Costs of Conflict: A Case Study of the Basque Country. American Economic Review, 93(1), 113-132. Fama, E. F., & Malkiel, B. G. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. The Journal of Finance, 25(2), 383-417. www.jstor.org/stable/2325486 Chung, R., Fung, S., Shilling, J. D., & Simmons, T. (2011). What Determines Stock Price Synchronicity in REITs? Journal of Real Estate Finance and Economics, 43(1), 73–98. https://doi.org/10.1007/s11146-010-9254-3 Cave, J., Chaudhuri, K., & Kumbhakar, S. C. (2020). Do banking sector and stock market development matter for economic growth? 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(2014). Financial Modeling. MIT Press. Basse Mama, H., Mueller, S., & Pape, U. (2017). What’s in the news? The ambiguity of the information content of index reconstitutions in Germany. Review of Quantitative Finance and Accounting, 49(4), 1087–1119. https://doi.org/10.1007/s11156-017-0617-1 Eder, L., Filimonova, V., Provornaya, V., & Nemov, V. (2017). The current state of the petroleum industry and the problems of the development of the Russian economy. IOP Conference Series: Earth and Environmental Science, 84(1), 012012. https://doi.org/10.1088/1755-1315/84/1/012012 Baltagi, B. H. (2008). Econometric Analysis of Panel Data (4th ed.). John Wiley & Sons. Fama, E. F., Fisher, L., Jensen, M. C., & Roll, R. (1969). The Adjustment of Stock Prices to New Information. International Economic Review, 10(1), 1-21. https://doi.org/10.2307/2525569 Guiso, L., & Jappelli, T. (2005). Awareness and stock market participation. 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Covid 19 The objective was to analyze the financial effects produced by the COVD-19 Pandemic in the companies that make up the Dow Jones Industrial Average (DJIA) index. The Event Study technique was applied to 30 entities that make up the DJIA, considering the financial impact of the dates of the World Health Organization (WHO) communications on stock returns. The results of the analysis prove the existence of favorable evidence in relation to the market efficiency of the DJIA, in addition, it was possible to demonstrate that the stock market benefits of the organizations that make up the technology sector have a positive performance in light of the reports on health crises disseminated by the OMS. Dow Jones Financial Effects of the Covid 19 Pandemic on Stock Prices of Dow Jones Index efficient market Event study Journal article https://revfinypolecon.ucatolica.edu.co/article/download/5726/5461 2024-07-24T00:00:00Z 2024-07-24 2248-6046 2011-7663 10.14718/revfinanzpolitecon.v16.n2.2024.9 https://doi.org/10.14718/revfinanzpolitecon.v16.n2.2024.9 547 573 2024-07-24T00:00:00Z |
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UNIVERSIDAD CATÓLICA DE COLOMBIA |
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https://nuevo.metarevistas.org/UNIVERSIDADCATOLICADECOLOMBIA/logo.png |
| country_str |
Colombia |
| collection |
Revista Finanzas y Política Económica |
| title |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones |
| spellingShingle |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones Valdés Medina, Filiberto Enrique Saavedra García, Maria Luisa Estudio de Eventos Mercado eficiente Covid 19 Dow Jones Covid 19 Dow Jones efficient market Event study |
| title_short |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones |
| title_full |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones |
| title_fullStr |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones |
| title_full_unstemmed |
Efectos Financieros del Covid 19 en los beneficios bursátiles de las Emisoras Integrantes del Índice Dow Jones |
| title_sort |
efectos financieros del covid 19 en los beneficios bursátiles de las emisoras integrantes del índice dow jones |
| title_eng |
Financial Effects of the Covid 19 Pandemic on Stock Prices of Dow Jones Index |
| description |
El objetivo fue analizar los efectos financieros producidos por la Pandemia COVD-19 en las empresas que integran el índice Dow Jones Industrial Average (DJIA). Se realizó la aplicación de la técnica Estudio de Eventos, a 30 entidades que conforman el DJIA, considerando el impacto financiero de las fechas de los comunicados de la Organización Mundial de la Salud (OMS) en los rendimientos accionarios. Los resultados del análisis prueban la existencia de evidencia favorable con relación a la eficiencia de mercado del DJIA, además, se pudo demostrar que los beneficios bursátiles de las organizaciones que integran el sector tecnología, tienen un rendimiento positivo ante los informes sobre crisis sanitarias difundidos por la OMS.
|
| description_eng |
The objective was to analyze the financial effects produced by the COVD-19 Pandemic in the companies that make up the Dow Jones Industrial Average (DJIA) index. The Event Study technique was applied to 30 entities that make up the DJIA, considering the financial impact of the dates of the World Health Organization (WHO) communications on stock returns. The results of the analysis prove the existence of favorable evidence in relation to the market efficiency of the DJIA, in addition, it was possible to demonstrate that the stock market benefits of the organizations that make up the technology sector have a positive performance in light of the reports on health crises disseminated by the OMS.
|
| author |
Valdés Medina, Filiberto Enrique Saavedra García, Maria Luisa |
| author_facet |
Valdés Medina, Filiberto Enrique Saavedra García, Maria Luisa |
| topicspa_str_mv |
Estudio de Eventos Mercado eficiente Covid 19 Dow Jones |
| topic |
Estudio de Eventos Mercado eficiente Covid 19 Dow Jones Covid 19 Dow Jones efficient market Event study |
| topic_facet |
Estudio de Eventos Mercado eficiente Covid 19 Dow Jones Covid 19 Dow Jones efficient market Event study |
| citationvolume |
16 |
| citationissue |
2 |
| publisher |
Universidad Católica de Colombia |
| ispartofjournal |
Revista Finanzas y Política Económica |
| source |
https://revfinypolecon.ucatolica.edu.co/article/view/5726 |
| language |
Español |
| format |
Article |
| rights |
http://purl.org/coar/access_right/c_abf2 info:eu-repo/semantics/openAccess Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. Maria Luisa Saavedra García, Filiberto Enrique Valdés Medina - 2024 https://creativecommons.org/licenses/by-nc-sa/4.0 |
| references |
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