| Title: |
The Impact of COVID-19 on Power Generation Companies in the Tehran Stock Exchange. |
| Authors: |
Ehterami, Mohammad Parsa; Ahmadzadeh, Khaled; Javaheri, Bakhtiar; Amani, Ramin |
| Source: |
International Journal of New Political Economy; 2026, Vol. 7 Issue 1, p111-142, 32p |
| Subject Terms: |
COVID-19 pandemic; Electric power production; Gold sales & prices; Rate of return on stocks; Vector autoregression model; Foreign exchange rates; Financial markets; Energy industries |
| Abstract (English): |
The COVID-19 pandemic has emerged as one of the most significant public health crises in recent decades, exerting farreaching effects not only on human health but also on global economies and financial markets. Its disruptive nature created unprecedented uncertainty, making it essential to understand sector-specific impacts. This study examines the consequences of the pandemic for the performance of power generation companies listed on the Tehran Stock Exchange during the period from April 2020 to July 2023. To achieve this, a Structural Vector Autoregression (SVAR) model was employed, incorporating several key variables such as COVID-19 mortality and infection rates per million people, international oil prices, global gold prices, and foreign exchange rates. The empirical results indicate that higher COVID-19 mortality and infection rates exerted a significant negative effect on the performance of power generation companies, reflecting the sensitivity of this sector to public health shocks. Conversely, increases in oil prices and exchange rates were associated with improved company performance, while rising gold prices had adverse effects. These findings highlight the importance of strategic policymaking to mitigate economic vulnerabilities during pandemics and strengthen market resilience in the face of future crises. [ABSTRACT FROM AUTHOR] |
| Abstract (Arabic): |
تتناول المقالة تأثير جائحة كوفيد-19 على أداء أسهم شركات توليد الطاقة المدرجة في بورصة طهران خلال الفترة من أبريل 2020 إلى يوليو 2023. باستخدام نموذج الانحدار الذاتي الهيكلي المتجه (Structural Vector Autoregression - SVAR)، تحلل الدراسة كيف أثرت معدلات الإصابة والوفيات بفيروس كوفيد-19، إلى جانب المتغيرات الاقتصادية الكلية الرئيسية مثل أسعار النفط، وأسعار الذهب، وأسعار الصرف، على أداء هذه الشركات. تشير النتائج إلى أن ارتفاع معدلات الإصابة والوفيات بفيروس كوفيد-19 كان له تأثير سلبي على أسهم قطاع الطاقة، في حين أن زيادة أسعار النفط وأسعار الصرف كان لها تأثير إيجابي على الأداء؛ أما ارتفاع أسعار الذهب فكان له تأثير ضار. تؤكد النتائج على أهمية إدارة مخاطر الجائحة، وشفافية التعرض لتقلبات أسعار الصرف، والاستقرار المالي الكلي لتعزيز القدرة على الصمود وثقة المستثمرين في قطاع توليد الطاقة في إيران وسط الصدمات الصحية والاقتصادية. [Extracted from the article] |
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| Database: |
Complementary Index |