What is it about?
COVID-19 has disrupted the normal course of production and livelihood activities worldwide. This paper examines the short-term impact of this pandemic on one such strategically important sector, the construction industry of India. This study employs an event study approach to empirically study the market performance and response trends of the construction industry of India to the COVID-19 pandemic. The study finds that COVID-19 has negatively impacted the sector, as reflected in the investors’ response during the pandemic window. Further empirical analysis also shows that this sector has been affected more vis-à-vis other similar industries. In addition, the study also highlights some broad recommendations and proposes a process framework with prescriptive strategies for relevant stakeholders to smoothen the post-COVID recovery process.
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Why is it important?
A pandemic like COVID-19 is a typical watershed event, and the contours of its impact on the myriad sectors of the economy are yet to be ascertained completely. The performance of the capital market is an important short-term indicator of the state of the economy to a certain extent, and our study is a humble attempt in this direction.
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This page is a summary of: COVID-19 and its impact on Indian construction industry: an event study approach, Construction Management and Economics, January 2023, Taylor & Francis,
DOI: 10.1080/01446193.2022.2164789.
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