Impact of Major Health Events on Pharmaceutical Stocks: A Comprehensive Analysis Using Macroeconomic and Market Indicators

arXiv - CS - Computational Engineering, Finance, and Science Pub Date : 2024-08-03 DOI:arxiv-2408.01883

Morteza Maleki, SeyedAli Ghahari

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Abstract

This study investigates the impact of significant health events on pharmaceutical stock performance, employing a comprehensive analysis incorporating macroeconomic and market indicators. Using Ordinary Least Squares (OLS) regression, we evaluate the effects of thirteen major health events since 2000, including the Anthrax attacks, SARS outbreak, H1N1 pandemic, and COVID-19 pandemic, on the pharmaceutical sector. The analysis covers different phases of each event beginning, peak, and ending to capture their temporal influence on stock prices. Our findings reveal distinct patterns in stock performance, driven by market reactions to the initial news, peak impact, and eventual resolution of these crises. We also examine scenarios with and without key macroeconomic (MA) and market (MI) indicators to isolate their contributions. This detailed examination provides valuable insights for investors, policymakers, and stakeholders in understanding the interplay between major health events and health market dynamics, guiding better decision-making during future health related disruptions.

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重大健康事件对医药股的影响：利用宏观经济和市场指标进行综合分析

本研究通过对宏观经济和市场指标的综合分析，探讨了重大健康事件对医药股表现的影响。利用普通最小二乘法（OLS）回归，我们评估了 2000 年以来 13 次重大健康事件对医药行业的影响，包括炭疽袭击、SARS 爆发、H1N1 大流行和 COVID-19 大流行。分析涵盖了每个事件开始、高峰和结束的不同阶段，以捕捉其对股票价格的时间影响。我们的研究结果揭示了这些危机的初始消息、高峰影响和最终解决的市场反应所驱动的股票表现的独特模式。我们还研究了有关键宏观经济（MA）和市场（MI）指标和没有关键宏观经济（MA）和市场（MI）指标的情景，以区分它们的贡献。这种详细的研究为投资者、政策制定者和利益相关者了解重大健康事件和健康市场动态之间的相互作用提供了有价值的见解，从而指导他们在未来与健康相关的混乱中做出更好的决策。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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arXiv - CS - Computational Engineering, Finance, and Science

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