Влияние Covid-19 на мировой фондовый рынок: отраслевой анализ / The impact of Covid-19 on Global Stock Market: industry analysis

Аннотация

The existing literature underscores a robust connection between global stock markets and spread of the Covid-19 that started in 2020 and finished in 2023. The year 2024 is presented as a period of growth for businesses after pandemic shocks. The aim of the thesis is identification of the features of the impact of Covid-19 on the stock prices of multinational companies in various industries. In order to achieve the aim of the study, this research highlights the main trends of development of the most affected industries, compares Covid-19 effects with the effect from Geopolitical Risk Index, evaluates the level of company’s sustainable development as a factor of recovery of Global Stock Market during COVID-19 period. The object of study of this work is the global stock market during Covid-19 period. The subject of study of this work is dynamics of stock prices of companies in various industries of the economy during Covid-19 period. The research investigates the stock prices and stock returns of leader companies from various industries by revenue for 2021 according to Global Data during pre-Covid-19 and Covid-19 periods, using data from 22.01.2019 to 20.01.2023 and employing the Panel VAR analysis, Dynamic Common Correlated Effects and comparative analysis. The data are taken from the Johns Hopkins University, Worldometer, Stopcoronavirus.rf, Investing.com, Statista.com, International monetary fund, The World Bank, Matteoiacoviello.com, Sustainalytics.com. The examination conducted in this study reveals a number of interesting discoveries. Firstly, there is a surprising positive impact of the COVID-19 pandemic on most industries, while geopolitical uncertainty has more negative effects. Secondly, most companies in the sample with positive stock price dynamics during post-Covid-19 period support their sustainable development. Thirdly, the Information Technology and Fashion industry are the most positively impacted from Covid-19, while Air & Travel is the most negatively impacted. Finally, the recommendations for businesses recovery from pandemic and further successful economic activity are provided.