Determinants of the Share Prices on the Bucharest Stock Exchange During the COVID-19 Pandemic

The research offers explanations on the dynamics of the stock exchange sharesShare listed on the Bucharest Stock ExchangeBucharest Stock Exchange during the pandemic. The paper studies the influence of several variables on the market price of companiesCompanies admitted to trading on all segments of Bucharest Stock ExchangeBucharest Stock Exchange. The variables considered were percentage of significant shareholders, free-float, capitalization level, and specific market indicatorsIndicators (PER, P/BV, EPS, DIVY, and DIV). The data processing was done statistically, the dependent variable being the difference between the maximum and minimum exchange rate recorded for each shareShare between 31.03.2020 and 31.03.2021. The results confirm that the reduction in the stock price during COVID-19COVID-19 is not the result of the stock market performance of the listed companiesCompanies. Another interesting conclusion is that the free-float variable had a significant positive correlation with the dependent variable. A higher level of capitalization of companiesCompanies has led to a lower percentage reduction in the stock market price, but the correlation is not significant.