Abstract
The Covid-19 epidemic has impacted the global economy and life, and even threatened human life. This study takes Taiwan's listed construction industry as a sample to test the impact of the Guidance Center's announcement of the escalation or downgrade of the epidemic on the abnormal returns of Taiwan's listed construction industry stocks. The empirical results point out that the three sub-industries (construction, construction, and others) of Taiwan's listed construction industry all have prior reactions before the announcement of the upgrade and downgrade events, which means that investors may have expected psychological reactions in advance. However, the reactions of the three sub-sectors after the announcement of the incident were different. This empirical result has reference value for investors' investment decisions.
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Reference
Department of Disease Control: Ministry of Health and Welfare: Covid-19 epidemic prevention key decision-making timeline. Retrieved on 13 February 2022. from https://covid19.mohw.gov.tw/ch/sp-timeline0-205.html
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Authors thank anonymous reviewers for their valuable suggestions.
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Wang, KY., Lin, YL., Han, CK., Sung, HJ. (2023). A Study on the Abnormal Stock Returns of Listed Companies in Taiwan's Construction Sub-industry due to the Covid-19 Epidemic Announcement. In: Barolli, L. (eds) Innovative Mobile and Internet Services in Ubiquitous Computing . IMIS 2023. Lecture Notes on Data Engineering and Communications Technologies, vol 177. Springer, Cham. https://doi.org/10.1007/978-3-031-35836-4_34
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DOI: https://doi.org/10.1007/978-3-031-35836-4_34
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