AUTHOR=Tang Chia-Hsien , Lee Yen-Hsien , Liu Win , Wei Li TITLE=Effect of the Universal Health Coverage Healthcare System on Stock Returns During COVID-19: Evidence From Global Stock Indices JOURNAL=Frontiers in Public Health VOLUME=10 YEAR=2022 URL=https://www.frontiersin.org/journals/public-health/articles/10.3389/fpubh.2022.919379 DOI=10.3389/fpubh.2022.919379 ISSN=2296-2565 ABSTRACT=

The increased uncertainty caused by a sudden epidemic disease has had an impact on the global financial market. We aimed to assess the primary healthcare system of universal health coverage (UHC) during the coronavirus disease (COVID-19) pandemic and its relationship with the financial market. To this end, we employed the abnormal returns of 68 countries from January 2, 2019, to December 31, 2020, to test the impact of the COVID-19 outbreak on abnormal returns in the stock market and determine how a country's UHC changes the impact of a sudden pandemic on abnormal returns. Our findings show that the sudden onset of an epidemic disease results in unevenly distributed medical system resources, consequently diminishing the impact of UHC on abnormal returns.