Short term reactions on the Bucharest Stock Exchange before and during Coronavirus Pandemic
The reactions of stock markets to shocks could have some particularities in circumstances when extraordinary events occur. This paper explores the reactions of the Romanian capital market in two complex periods. The first one, from July 2, 2018, to January 29, 2020, was marked by external and domestic circumstances that influenced investors’ behavior. During the second one, from January 30, 2020, to August 17, 2021, the financial markets were affected by Coronavirus Pandemic. The results suggest that in both periods the underreactions of shares prices predominated.
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