COVID-19 in Vietnam: What Happened in the Stock Market?

15 Pages Posted: 23 Jul 2020

See all articles by Quang-Thai Truong

Quang-Thai Truong

University of Dalat; National Chiao Tung University

Duc Nguyen Nguyen

Dalat University

Quynh-Nhu Tran

National Chiao Tung University

Somar Al-Mohamad

American University of Middle East. Kuwait

Walid Bakry

Western Sydney University

Date Written: July 17, 2020

Abstract

The purpose of this paper is to investigate the performance of the stock market during the outbreak of the novel Coronavirus (COVID-19) in Vietnam - a frontier country that successfully tackles the outbreak of this pandemic. Employing data from 11 different industries and more than 700 firms from two main stock exchanges from January 23, 2020 (first case reported in Vietnam), results suggest that COVID-19 exerts heterogeneous impacts on different industries. Moreover, when focusing on firm-level, results depicts that firms with better financial background (leverage, liquidity, profitability, and cash holdings) have better stock performance.

Keywords: COVID-19, pandemic, Vietnam, stock performance

JEL Classification: G10, G14

Suggested Citation

Truong, Quang-Thai and Nguyen, Duc Nguyen and Tran, Quynh-Nhu and Al-Mohamad, Somar and Bakry, Walid, COVID-19 in Vietnam: What Happened in the Stock Market? (July 17, 2020). Available at SSRN: https://ssrn.com/abstract=3654017 or http://dx.doi.org/10.2139/ssrn.3654017

Quang-Thai Truong (Contact Author)

University of Dalat ( email )

01 Phu Dong Thien Vuong Street
Da Lat, Lam Dong
Vietnam

National Chiao Tung University ( email )

Taiwan

Duc Nguyen Nguyen

Dalat University ( email )

01 Phu Dong Thien Vuong Street
Da Lat, Lam Dong
Vietnam

Quynh-Nhu Tran

National Chiao Tung University ( email )

No. 1001, Daxue Rd, East District
Hsinchu, 300
Taiwan

Somar Al-Mohamad

American University of Middle East. Kuwait ( email )

Block 6, Building 1
Egaila
Kuwait
2225 1400 (Phone)

Walid Bakry

Western Sydney University ( email )

Sydney
1 Parramatta Square, 169 Macquarie Street, Parrama
Sydney, 2751
Australia
2 9685 9372 (Phone)

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