Table 1 Scientific literature analyzed on the relationship between COVID-19 and the stock market
Methodology | Geographical scope | Stock market scope/sector | Time frame | |
|---|---|---|---|---|
Ahmed (2020) | Classic regression model | Pakistan | Stock indexes | 01/2020–06/2020 |
Ahmed et al. (2021) | Welch test, HI t-test, Generalized Method of Moment | South Asian countries | Commodities(gold and oil) and stock indexes | 03/06/2019–13/03/2020 |
Alomari et al. (2022) | Quantile regressions | USA | Stock indexes and multisectoral analysis (no tourism) | 01/1985–03/2020 |
Amin et al. (2021) | Panel data regression | South America, North America and Central America | Stock indexes | 10/03/2020–09/04/2020 |
Ashraf (2020) | Panel data regression | 64 Countries (included Spain) | Stock indexes | 22/01/2020–17/04/2020 |
Al-Awadhi et al. (2020) | Panel data regression | China | Stock indexes and multisectoral analysis, differentiating air transportation and hotels | 10/01/2020–16/03/2020 |
Al-Qudah, and Houcine (2021) | Panel data regression and event study | Africa, Americas, Eastern Mediterranean, Europe, South-East Asia and Western Pacific | Stock indexes | 21/01/2020–11/03/2020 |
Baek and Lee (2021) | Markov switching model and BEKK-multivariate GARCH model | USA | Stock indexes and multisectoral analysis (no tourism) | 02/01/2020–30/04/2020 |
Baker et al. (2020) | Descriptive. Text-based methods | USA | Stock market | 01/1985–06/2020 |
Bañuls (2021) | Descriptive analysis | USA, Europe, Spain and China | Stock indexes | 19/02/2020–15/03/2020 |
Ben Amar et al. (2021) | Diebold and Yilmaz (2012) spillover index approach | Europe, North America, Latin America, Asia and Pacific, GCC countries | Stock indexes | 31/12/2019–30/06/2020 |
Carter et al. (2022) | Multivariate regression model and event study | USA | Airlines, restaurants, and hotels | 15/02/2020–30/03/2020 |
Chai (2021) | Event study (case study) | China | Stock index and tourist company (Caissa Tourism) | 01/04/2019–08/01/2020 |
Ganie et al. (2022) | Event study | USA, India, Brazil, Mexico, Russia and Spain | Stock indexes | 01/2020–09/2020 |
Gil-Alana and Poza (2022) | Fractional integration-regression model | Spain | Stock index and tourism | 14/05/2018–14/05/2020 |
Gupta et al. (2021) | T-test and nonparametric test of Mann–Whitney | China, Japan, UK,USA, Germany and India | Stock indexes | 01/01/2019–30/06/2020 |
Haroon and Rizvi (2020) | Exponential GARCH models and Ordinary Least Square Regressions | USA | Stock indexes and multisectoral analysis, differentiating travel and hotels | 01/01/2020–30/04/2020 |
He et al. (2020) | Event study | China | Stock indexes and multisectoral analysis (no tourism) | 03/06/2019–13/03/2020 |
Hung et al. (2021) | Event study | Vietnam | Stock market | 02/01/2020–13/12/2020 |
Huo and Qiu (2020) | Event study | China | Multisectoral analysis (no tourism) | 22/01/2020–03/03/2020 |
Jabeen et al. (2022) | Descriptive analysis | Usa, Germany, Australia, France, Europe, India, Japan, Pakistan and China | Stock indexes | 01/01/2020–01/01/2020 |
Kusumahadi and Permana (2021) | Fundamental equation and TGARCH model | USA, Italy, Spain, Germany, China, France, UK, Canada, South Korea, Brazil, Australia, Indonesia, South Africa, Singapore and Morocco | Stock indexes | 01/01/2019–30/06/2020 |
Liu et al. (2020) | Event study | Abu-Dhabi, France, Germany, USA, UK, Malaysia, Indonesia, Korea, Russia, Japan, Australia, Canada, Singapore, Thailand, China, Italy and India | Stock indexes | 21/02/2019–20/03/2020 |
Liew (2020a) | Event study | China | Tourism | 11/03/2019–14/04/2020 |
Liew (2020b) | Regression model | USA | Tourism and travel: touroperators | 02/10/2019–27/03/2020 |
Mazur et al. (2021) | Descriptive analysis | USA | Stock indexes and multisectoral analysis, differentiating hospitality | 01/03/2020–31/03/2020 |
Mdaghri et al. (2020) | Panel data regression | Middle East and North African (MENA) countries | Stock market | 03/02/2020–20/05/2020 |
Nhamo et al. (2020) | Event study—descriptive analysis | Global | Tourism and Sports | 19/02/2020–24/03/2020 |
Ofori-Boateng et al. (2021) | Event study | Ghana | Stock indexes | 01/03/2020–01/01/2020 |
Ramelli and Wagner (2020) | Regression model | USA | Stock indexes and multisectoral analysis (no tourism) | 31/12/2018–03/04/2020 |
Sharma and Nicolau (2020) | Autoregressive conditionaxl heteroskedasticity model | USA | Hotel, airline, cruise and rental car industries | 01/09/2018–31/03/2020 |
Ramelli and Wagner (2020) | Event study and y least squares regression | USA | Stock indexes and multisectoral analysis (no tourism) | 31/12/2018–03/04/2020 |
Schoenfeld (2020) | Regression model | USA | Stock indexes and comodities | 01-2020–03-2020 |
Topaloglu et al. (2021) | Panel data regression | Turkey, Belgium, Germany, France, Italy, Spain, United Kingdom, United States, China and Netherland | Stock indexes and multisectoral analysis (no tourism) | 17/03/2020–14/04/2020 |
Wu et al. (2021) | Event study and regression model | China | Tourism | 25/03/2019–10/07/2020 |