Light a lamp and look at the stock market

In this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We fin...

Descripción completa

Detalles Bibliográficos
Autor principal: Chundakkadan, Radeef
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2021
Materias:
Research
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7982769/
https://www.ncbi.nlm.nih.gov/pubmed/35024276
http://dx.doi.org/10.1186/s40854-021-00232-6
_version_ 1783667789495533568
author Chundakkadan, Radeef
author_facet Chundakkadan, Radeef
author_sort Chundakkadan, Radeef
collection PubMed
description In this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day.
format Online
Article
Text
id pubmed-7982769
institution National Center for Biotechnology Information
language English
publishDate 2021
publisher Springer Berlin Heidelberg
record_format MEDLINE/PubMed
spelling pubmed-79827692021-03-23 Light a lamp and look at the stock market Chundakkadan, Radeef Financ Innov Research In this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day. Springer Berlin Heidelberg 2021-03-22 2021 /pmc/articles/PMC7982769/ /pubmed/35024276 http://dx.doi.org/10.1186/s40854-021-00232-6 Text en © The Author(s) 2021 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Research
Chundakkadan, Radeef
Light a lamp and look at the stock market
title Light a lamp and look at the stock market
title_full Light a lamp and look at the stock market
title_fullStr Light a lamp and look at the stock market
title_full_unstemmed Light a lamp and look at the stock market
title_short Light a lamp and look at the stock market
title_sort light a lamp and look at the stock market
topic Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7982769/
https://www.ncbi.nlm.nih.gov/pubmed/35024276
http://dx.doi.org/10.1186/s40854-021-00232-6
work_keys_str_mv AT chundakkadanradeef lightalampandlookatthestockmarket

Ejemplares similares