Abstract
For vaccine companies, the announcements of beginning and ending of COVID-19 vaccine development are milestones of vaccine companies. Few studies have explored how announcements of COVID-19 vaccine affect stock market returns of vaccine companies. In this work, we match the announcements of beginning and ending of COVID-19 vaccine development with three leading vaccine companies and adopt the event study methodology to examine the relationship between COVID-19 vaccine development events and changes in stock returns. We identify the 6 public announcements related to 3 begging and 3 ending as well as 3 vaccine companies. The majority events were associated with stock prices increases when those events happened. Our study shows that Covid-19 vaccine R&D have material economic implications and the result shows that investors can use biological company announcements as a solution for determining when to invest in the company and its competitors.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Lecture Notes in Education Psychology and Public Media
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
