The Impact of Pfizer-BioNTech COVID-19 Vaccine Development on the Companies Involved

DOI

10.2991/aebmr.k.220307.210How to use a DOI?

Keywords

COVID-19; event study; stock price; abnormal return

Abstract

The COVID-19 pandemic has varying degrees of negative impact on economies and stock markets around the world. However, vaccine development and rising demand for drugs may have a different impact on the pharmaceutical industry. This paper aims to examine the impact of Pfizer-BioNTech COVID-19 Vaccine development on the companies involved. Using an event study method, the study finds evidence of a positive Abnormal Return (AR) on Pfizer and BioNTech around the period when the vaccine was declared to be more than 90% effective. The degrees of influence of the vaccine development on them are different as BioNTech has a greater AR and higher correlation with the number of vaccinations.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Wanzhen Fu
AU  - Yanyin Chen
PY  - 2022
DA  - 2022/03/26
TI  - The Impact of Pfizer-BioNTech COVID-19 Vaccine Development on the Companies Involved
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1271
EP  - 1276
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.210
DO  - 10.2991/aebmr.k.220307.210
ID  - Fu2022
ER  -