Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic

In this paper, we study the impact of news and sentiments related to covid-19 on United Kingdom (UK)'s stock returns from February 4, 2020 to December 7, 2020. Our results show that covid-19 daily cases exert a significant negative effect on stock returns whereas covid-19 daily deaths have a si...

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Autores principales: Kamal, Javed Bin, Wohar, Mark
Formato: Online Artículo Texto
Lenguaje:English
Publicado: CEPII (Centre d'Etudes Prospectives et d'Informations Internationales), a center for research and expertise on the world economy. Published by Elsevier B.V. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9701567/
http://dx.doi.org/10.1016/j.inteco.2022.11.001
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author Kamal, Javed Bin
Wohar, Mark
author_facet Kamal, Javed Bin
Wohar, Mark
author_sort Kamal, Javed Bin
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description In this paper, we study the impact of news and sentiments related to covid-19 on United Kingdom (UK)'s stock returns from February 4, 2020 to December 7, 2020. Our results show that covid-19 daily cases exert a significant negative effect on stock returns whereas covid-19 daily deaths have a significant positive impact. These findings hold when covid-related news and sentiments indices are controlled with the 2nd wave data, and when the US policies and equity market volatilities from infectious diseases are used as controls. The magnitude of the effect of covid cases and deaths indicates that the pandemic is not very harmful to the UK stock market.
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spelling pubmed-97015672022-11-28 Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic Kamal, Javed Bin Wohar, Mark International Economics Article In this paper, we study the impact of news and sentiments related to covid-19 on United Kingdom (UK)'s stock returns from February 4, 2020 to December 7, 2020. Our results show that covid-19 daily cases exert a significant negative effect on stock returns whereas covid-19 daily deaths have a significant positive impact. These findings hold when covid-related news and sentiments indices are controlled with the 2nd wave data, and when the US policies and equity market volatilities from infectious diseases are used as controls. The magnitude of the effect of covid cases and deaths indicates that the pandemic is not very harmful to the UK stock market. CEPII (Centre d'Etudes Prospectives et d'Informations Internationales), a center for research and expertise on the world economy. Published by Elsevier B.V. 2023-05 2022-11-07 /pmc/articles/PMC9701567/ http://dx.doi.org/10.1016/j.inteco.2022.11.001 Text en © 2022 CEPII (Centre d'Etudes Prospectives et d'Informations Internationales), a center for research and expertise on the world economy. Published by Elsevier B.V. All rights reserved. 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
Kamal, Javed Bin
Wohar, Mark
Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title_full Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title_fullStr Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title_full_unstemmed Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title_short Heterogenous responses of stock markets to covid related news and sentiments: Evidence from the 1st year of pandemic
title_sort heterogenous responses of stock markets to covid related news and sentiments: evidence from the 1st year of pandemic
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9701567/
http://dx.doi.org/10.1016/j.inteco.2022.11.001
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