Stock market performance of Brazilian healthcare companies during the COVID-19 pandemic: a sectoral analysis
Abstract This study analyzes the stock market performance of 14 healthcare companies listed on the Brazilian stock exchange during the COVID-19 pandemic. It focuses on four subsectors: pharmaceuticals, drugs, equipment, and medical services. Using a comprehensive methodological approach—including the Capital Asset Pricing Model, Sharpe index, and panel data regression—the study assesses individual and portfolio behavior from January 2020 to July 2021. The findings reveal heterogeneous impacts of the pandemic across subsectors, with pharmaceutical companies showing more resilience than drug and medical service firms. The research provides investors, policymakers, and healthcare managers valuable insights by identifying sector-specific risk and return profiles during health crises.
Authors
- Zhaohui Su (ORCID: https://orcid.org/0000-0003-2005-9504)
- Carlos Otávio Senff (ORCID: https://orcid.org/0000-0001-7408-0072)
- Wesley Vieira da Silva (ORCID: https://orcid.org/0000-0001-7277-664X)
- Alessandra Cassol (ORCID: https://orcid.org/0000-0003-0753-9642)
- Marcos Gonçalves Perroni (ORCID: https://orcid.org/0000-0003-1702-8176)
- Claudimar Pereira da Veiga (ORCID: https://orcid.org/0000-0002-4960-5954)
- Mauricio Schifler
Institutions
- Universidade Federal Rural do Rio de Janeiro (BR)
- Pontifícia Universidade Católica do Paraná (BR)
- Universidade do Contestado (BR)
- Universidade Federal do Paraná (BR)
- Fundação Dom Cabral (BR)
- Southeast University (CN)
- Universidade Federal de Alagoas (BR)
Publication Details
- Journal
- Future Business Journal
- Published
- 2025-05-03
- DOI
- https://doi.org/10.1186/s43093-025-00527-5
- Citations
- 1
- Primary Topic
- COVID-19 Pandemic Impacts
- Type
- article
- Field-Weighted Citation Impact
- 3.13
Funders
- Conselho Nacional de Desenvolvimento Científico e Tecnológico