Working online or offline during COVID-19: Which has more impacts on stock price?

Remote work has become increasingly popular and important after the spread of COVID-19, but its impact on the financial market is in dispute. Using a unique dataset of analyst visits in China and multiple regression, we examine the impact of remote work on the financial market by comparing the marke...

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Detalles Bibliográficos
Autores principales: Jia, Wanjiao, Xu, Yuanyuan, Lu, Xiaowu
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Frontiers Media S.A. 2022
Materias:
Psychology
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9798914/
https://www.ncbi.nlm.nih.gov/pubmed/36591025
http://dx.doi.org/10.3389/fpsyg.2022.970961
Descripción
Sumario:Remote work has become increasingly popular and important after the spread of COVID-19, but its impact on the financial market is in dispute. Using a unique dataset of analyst visits in China and multiple regression, we examine the impact of remote work on the financial market by comparing the market reaction to analysts’ online and offline visits. Results show that online visits have a significantly greater impact on stock prices than offline visits, as discussion depth, information sharing, and information dissemination are enhanced. Additionally, online visits can predict the changes in funds’ holdings and firms’ future performance. Overall, our findings suggest that remote work improves the information environment of the financial market during COVID-19.

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