University of Twente Student Theses
The effect of firm-specific characteristics on the stock market returns during the COVID-19 pandemic: An event study
Koning, Cas C. de (2021) The effect of firm-specific characteristics on the stock market returns during the COVID-19 pandemic: An event study.
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| Abstract: | This thesis investigated the Dutch stock market reaction to the COVID-19 pandemic with the use of an event study method with the event date set on the first trading day the lockdown was enforced (March 16th). The study uses a sample of 75 companies listed in the Netherlands on one of the three indices (AEX, AMX, AScX). Ten firm-specific characteristics were tested on their correlation to cumulative abnormal return with the use of a multiple regression analysis in SPSS, with each variable having a hypothesis. The study only found board size to have a (positive) statistically significant correlation to cumulative abnormal return. Meaning, firms with a larger board experience a less adverse impact on the COVID-19 pandemic than other firms. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 49 domestic science, 83 economics, 85 business administration, organizational science, 88 social and public administration |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/88222 |
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