International Journal of Social Science & Economic Research
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Title:
IMPACT OF COVID-19 ON STOCK MARKET PERFORMANCE: THE EVIDENCE IN VIETNAM

Authors:
Uyen Thuy Mai Vu

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Uyen Thuy Mai Vu1,2
1. School of Business, International University, Vietnam
2. Vietnam National University, Ho Chi Minh City, Vietnam

MLA 8
Vu, Uyen Thuy Mai. "IMPACT OF COVID-19 ON STOCK MARKET PERFORMANCE: THE EVIDENCE IN VIETNAM." Int. j. of Social Science and Economic Research, vol. 7, no. 8, Aug. 2022, pp. 2456-2466, doi.org/10.46609/IJSSER.2022.v07i08.008. Accessed Aug. 2022.
APA 6
Vu, U. (2022, August). IMPACT OF COVID-19 ON STOCK MARKET PERFORMANCE: THE EVIDENCE IN VIETNAM. Int. j. of Social Science and Economic Research, 7(8), 2456-2466. Retrieved from https://doi.org/10.46609/IJSSER.2022.v07i08.008
Chicago
Vu, Uyen Thuy Mai. "IMPACT OF COVID-19 ON STOCK MARKET PERFORMANCE: THE EVIDENCE IN VIETNAM." Int. j. of Social Science and Economic Research 7, no. 8 (August 2022), 2456-2466. Accessed August, 2022. https://doi.org/10.46609/IJSSER.2022.v07i08.008.

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ABSTRACT:
The purpose of this paper is to capture the investors’ mood related to the COVID-19 pandemic and analyze its impact on the stock market returns of Vietnam. In order to capture the investor mood related to the COVID-19 pandemic, the authors construct a unique COVID-19 fear index based on the Search Volume Index (SVI) from Google Trends (http://www.Google.com/trends/) of the search terms related to COVID-19 words and phrases as revealed by Google and Internet dictionaries in Vietnamese. The COVID-19 fear index was used to investigate its impact on the stock market returns. The study finds a strong negative association between COVID-19 fear and stock returns in Vietnam. Unlike other studies, the relationship is persistent for a significant period. This relationship is not found to reverse in the following days. The results also highlight that COVID-19 fear strongly impacts the stock market. The sentiment persists for a significant period and is not reversed soon, unlike the regular times in earlier studies.

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