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Investigating the Impact of the COVID-19 Pandemic on the Performance of Petrochemical Companies of Tehran Stock Exchange

Document Type : Original Article

Authors

1 M.Sc. Student in Economics, Department of Economics, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran.

2 Associate Professor, Department of Economics, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran

3 Associate Professor, Department of Economics, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran.

Abstract

The COVID-19 has been one of the most significant events in recent decades. One of the most vital sectors that COVID-19 has had a significant impact on is financial markets and stock exchanges. The aim of this research is to investigate the impact of the COVID-19 pandemic on the performance of petrochemical companies listed on Tehran Stock Exchange during the period from the M4:2020 to the M7:2023 using the structural vector autoregression model. To achieve the research aim, the variables of COVID-19 death rate per million individual, COVID-19 infection rate per million individual, oil price, gold price, and exchange rate were used. The results of this research indicate a negative and significant impact of the COVID-19 death rate and infection rate on the performance of petrochemical companies listed on Tehran Stock Exchange. On the other hand, oil price and exchange rate have a positive and significant impact, and gold price has a negative and significant impact on the performance of petrochemical companies listed on Tehran Stock Exchange. Based on the research results, it is suggested to policymakers to adopt new policies in the field of dealing with possible future pandemics and the impact of these pandemics on the country's economy.

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References
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Economic Policies and Research
Volume 2, Issue 4 - Serial Number 8
March 2024
Pages 36-69
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