Impacts of COVID-19 on the Return of Sustainable Stocks of Thailand
DOI:
https://doi.org/10.55908/sdgs.v11i9.1301Keywords:
sustainable stocks, vaccination, Coronavirus disease 2019Abstract
Objective: This study aimed to investigate the impact of Covid-19 pandemic and vaccination on the sustainable stock price in the Stock Exchange of Thailand (SET) which be controlled by economic factors (as consumer price index and exchange rate)
Method: This paper employs Panel Autoregressive Distribution Lag model. These panel data were collected from the 93 sustainable stocks in SET during January 2017 to September 2022.
Results: The empirical results reveal that the COVID-19 pandemic caused the decline of the stock price, while the vaccination caused of the price increasing. In addition, the exchange rate depreciation also pushed the stock price and consumer price index (CPI) increasing pull the price down.
Conclusion: The results of this study revealed the influences of a terrible incident as an obstacle for the economic sector at the global level, i.e., the COVID-19 pandemic and its solutions/vaccines, and the influences of economic factors affecting the prices in the sustainable stock group. Therefore, the use of measures to promote vaccination would reflect the investors’ confidence in sustainable stocks.
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