Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

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

Authors
Wanzhen Fu1, *, Yanyin Chen2
1Shude High School International Department, Chengdu, Sichuan 610066, China
2Acabridge Academy, Shanghai 200137, China
*Corresponding author Email: hereisfuwanzhen@163.com
Corresponding Author
Wanzhen Fu
Available Online 26 March 2022.
DOI
https://doi.org/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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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.210How to use a DOI?
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.

Cite this article

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  - https://doi.org/10.2991/aebmr.k.220307.210
ID  - Fu2022
ER  -