Abstract

SOSA CASTRO, Magnolia Miriam; ORTIZ CALISTO, Edgar Segundo  and  CABELLO ROSALES, María Alejandra. Impact of Covid-19 and Financial Variables on the Capitalization of IPC35 Companies by Sector: Panel FMOLS and DOLS. Ens. Rev. econ. [online]. 2024, vol.43, n.1, pp.19-50.  Epub Feb 11, 2025. ISSN 2448-8402.  https://doi.org/10.29105/ensayos43.1-2.

This article aims to examine the impact of the pandemic (number of contagious) and key financial variables (WTI oil price, exchange rate, US stock indexes) impact on the market capitalization levels of the companies of the Mexican Stock Index IPC35. To achieve that purpose, one general and six sectorial panel data models are displayed, based on the techniques of: Dynamic Ordinary Least Squares (DOLS) and Completely Modified Ordinary Least Squares (FMOLS) for the period March, 2020 - March, 2021. The results suggest that there is a negative impact of Covid-19 and the exchange rate for most of the companies. As for the general and sectoral U.S. index and oil price variables, for most of the sectors, there is a statistically significant and positive impact. Based on what is expected, the impacts for each sector are diverse due to the different nature of each one of them.

Keywords : México; Covid-19; Stock market; Exchange rate; DOLS; FMOLS.

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