Journal of Transportation Research

Journal of Transportation Research

Investigating the Returns of Transport Companies’ Stocks in Singapore Stock Exchange during the Pandemic

Document Type : Original Article

Author
Kasra Pourkermani
Associate Professor, Faculty of Economics and Management, Khorramshahr University of Marine Science and Technology, Khorramshahr, Iran.
10.22034/tri.2023.366274.3093
Abstract
This study examines the returns of transport companies’ stocks during the Covid-19 pandemic. The research uses the daily data of transport companies listed on the Singapore Stock Exchange with more 50% maritime involvement, the research has adopted a type of occurrence study method to find the short-term effects of the disease outbreak on stock prices. The result shows that when it was announced that Covid-19 is an epidemic worldwide and travel bans were imposed to many countries in the Middle East, Asia, Europe and America, the shares of transport companies reacted to the news of the Covid-19 crisis. During the pessimistic events prices implies a negative reaction and the investors' reaction reached -21%. When the financial stimulus package was introduced by United States as the holder of the largest market value. The most positive reaction was 13%. The findings are also confirmed by analyzing the financial performance of individual companies. Overall that stock prices of transport companies react quickly to news about the Covid-19 pandemic, and this reaction varies with the level of prevalence and hope for recovery.
 
Keywords
Covid-19
Financial Analysis
Stock Returns
Studying Occurrences

Subjects

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