Related Experiment Video
Updated: Oct 20, 2025

Author Spotlight: Advancements in Multiplex Detection of Respiratory Viruses
Published on: November 10, 2023
Impact of COVID-19 on stock market efficiency: Evidence from developed countries
1Department of Business Administration, Faculty of Economics and Administrative Sciences, Tokat Gaziosmanpasa University, Tokat, Turkey.
Abstract:
This study investigates the impact of the novel coronavirus (COVID-19) pandemic on stock market efficiency for six hard-hit developed countries, namely, the United States (US), Spain, the United Kingdom (UK), Italy, France, and Germany. Applying the wild bootstrap automatic variance ratio test on daily stock market data from July 29, 2019 to January 25, 2021, it is found that all stock markets used in this study deviate from market efficiency during some periods of the pandemic. Deviations from market efficiency are seen more in the stock markets of the US and UK during the COVID-19 outbreak than in other stock markets. These results are strengthened when a different econometric method, the automatic portmanteau test, is used. The findings of this study indicate an increasing chance for stock price predictions and abnormal returns during the COVID-19 pandemic.
More Related Videos
Related Concept Videos
Equity Theory
Pareto Chart
The Pareto chart is named after the Italian economist Vilfredo Pareto, who described the Pareto...
Production Efficiency
Econometric Views (EViews)
Bias in Epidemiological Studies
Regression Toward the Mean

