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Information demand during the COVID-19 pandemic
We investigate the demand for financial information during the initial months of the COVID-19 pandemic. Using Google search data for individual stocks, we show that the Abnormal Google Search Volume Index declined significantly between March and June of 2020. We find a similar effect around earnings...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
The Authors. Published by Elsevier Inc.
2021
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8529323/ http://dx.doi.org/10.1016/j.jaccpubpol.2021.106917 |
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author | Dong, Hang Gil-Bazo, Javier Ratiu, Raluca Valeria |
author_facet | Dong, Hang Gil-Bazo, Javier Ratiu, Raluca Valeria |
author_sort | Dong, Hang |
collection | PubMed |
description | We investigate the demand for financial information during the initial months of the COVID-19 pandemic. Using Google search data for individual stocks, we show that the Abnormal Google Search Volume Index declined significantly between March and June of 2020. We find a similar effect around earnings announcements dates, which confirms that the demand for financial information by retail investors declined during the pandemic. Our results are indicative of potentially important consequences for information diffusion, price discovery and market efficiency under extreme uncertainty. We discuss possible explanations for these results. |
format | Online Article Text |
id | pubmed-8529323 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2021 |
publisher | The Authors. Published by Elsevier Inc. |
record_format | MEDLINE/PubMed |
spelling | pubmed-85293232021-10-21 Information demand during the COVID-19 pandemic Dong, Hang Gil-Bazo, Javier Ratiu, Raluca Valeria Journal of Accounting and Public Policy Article We investigate the demand for financial information during the initial months of the COVID-19 pandemic. Using Google search data for individual stocks, we show that the Abnormal Google Search Volume Index declined significantly between March and June of 2020. We find a similar effect around earnings announcements dates, which confirms that the demand for financial information by retail investors declined during the pandemic. Our results are indicative of potentially important consequences for information diffusion, price discovery and market efficiency under extreme uncertainty. We discuss possible explanations for these results. The Authors. Published by Elsevier Inc. 2021 2021-10-21 /pmc/articles/PMC8529323/ http://dx.doi.org/10.1016/j.jaccpubpol.2021.106917 Text en © 2021 The Authors Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active. |
spellingShingle | Article Dong, Hang Gil-Bazo, Javier Ratiu, Raluca Valeria Information demand during the COVID-19 pandemic |
title | Information demand during the COVID-19 pandemic |
title_full | Information demand during the COVID-19 pandemic |
title_fullStr | Information demand during the COVID-19 pandemic |
title_full_unstemmed | Information demand during the COVID-19 pandemic |
title_short | Information demand during the COVID-19 pandemic |
title_sort | information demand during the covid-19 pandemic |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8529323/ http://dx.doi.org/10.1016/j.jaccpubpol.2021.106917 |
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