Covid-19 and Serbian Stock Market Response A Panel Data Approach
Main Article Content
In this paper, the authors attempted to explore the relationship between the Covid-19 Coronavirus pandemic and the stock market in the Republic of Serbia. The main research variables on the stock market are the daily values of the Belex 15 and Belex Line indices and trading volume. For the pandemic variables, official daily data on the number of new Covid-19 cases in Serbia, Europe, and the world were taken. By applying the panel regression analysis for the period from 03/06/2020 to 12/30/2021, the empirical results show a positive and significant influence of the number of daily infected in Serbia and Europe on the stock market index value, At the same time, the influence of daily infected ones on trading volume is negative but statistically significant only when it comes to the new cases of coronavirus per day at the level of Europe. The presented results indicate the resilience of the Serbian capital market to internal and external shocks.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Once the manuscript is accepted for publication, authors shall transfer the copyright to the publisher. If the submitted manuscript is not accepted for printing by the journal, the authors shall retain all their rights. The following rights on the manuscript are transferred to the publisher, including any supplementary materials and any parts, extracts or elements of the manuscript:
- the right to reproduce and distribute the manuscript in printed form, including print-on-demand;
- the right to print prepublications, reprints and special editions of the manuscript;
- the right to translate the manuscript into other languages;
- the right to reproduce the manuscript using photomechanical or similar means including, but not limited to photocopy, and the right to distribute these copies;
- the right to reproduce and distribute the manuscript electronically or optically using and all data carriers or storage media, and especially in machine readable/digitalized form on data carriers such as hard drive, CD-ROM, DVD, Blu-ray Disc (BD), Mini Disc, data tapes, and the right to reproduce and distribute the article via these data carriers;
- the right to store the manuscript in databases, including online databases, as well as the right to transmit the manuscript in all technical systems and modes;
- the right to make the manuscript available to the public or to closed user groups on individual demand, for use on monitors or other readers (including e-books), and in printable form for the user, either via the Internet, online service, or via internal or external networks.
Authors reserve the copyright to published articles and have the right to use the article in the same manner like third parties in accordance with the licence Attribution-Non-Commercial-Non-Derivate 4.0 International (CC BY). Thereby they must quote the basic bibliographic data of the source article published in the journal (authors, article title, journal title, volume, pagination).