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Impacts of COVID-19 on Stock Returns of the Cross-border Transportation Industry

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Innovative Mobile and Internet Services in Ubiquitous Computing (IMIS 2022)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 496))

Abstract

This research examined the influence of COVID-19 on the stock returns of the cross-border transportation industry by performing an event study on the cumulative abnormal return of cross-border transportation companies listed in Taiwan from December 2019 to February 2021. The purpose is to analyze whether the pandemic has a negative impact on the stock returns of the cross-border transportation industry. The empirical results indicate the cumulative abnormal return is indeed influenced by COVID-19, but the impact can be positive or negative at different time points.

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Notes

  1. 1.

    Anue website at https://stock.cnyes.com/market/TWS:2618:STOCK/eps.

  2. 2.

    Ministry of Health and Welfare, https://www.mohw.gov.tw/mp-1.html.

References

  • Ball, R., Brown, P.: An empirical evaluation of accounting income numbers. J. Account. Res. Autumn, 159–178 (1968)

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  • Fama, E.F., Fisher, L., Jensen, M.C., Roll, R.: The adjustment of stock prices to new information. Int. Econ. Rev. 10, 1–21 (1969)

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Acknowledgments

This research was supported by Ministry of Science and Technology of the Republic of China under contract MOST 110-2813-C-468-083-H.

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Authors and Affiliations

  1. Department of Finance, Asia University, No. 500, Liufeng Rd., Wufeng Dist., Taichung City, 413305, Taiwan

    Ying-Li Lin & Kuei-Yuan Wang

  2. Dong Ming Elementary School, No. 93, Dongming Rd., Dajia Dist., Taichung City, 437106, Taiwan

    Ching-Ru Yang

Authors
  1. Ying-Li Lin
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  2. Kuei-Yuan Wang
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  3. Ching-Ru Yang
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Corresponding author

Correspondence to Kuei-Yuan Wang .

Editor information

Editors and Affiliations

  1. Department of Information and Communication Engineering, Fukuoka Institute of Technology, Fukuoka, Japan

    Leonard Barolli

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Lin, YL., Wang, KY., Yang, CR. (2022). Impacts of COVID-19 on Stock Returns of the Cross-border Transportation Industry. In: Barolli, L. (eds) Innovative Mobile and Internet Services in Ubiquitous Computing. IMIS 2022. Lecture Notes in Networks and Systems, vol 496. Springer, Cham. https://doi.org/10.1007/978-3-031-08819-3_36

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