COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective

We use the COVID-19 stringency index to investigate the relationship among COVID-19 government restriction policy, COVID-19 vaccination and stock markets. We find that the impact of the change rate of COVID-19 stringency index on stock returns turns from significant in the pre-vaccination period to...

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Detalles Bibliográficos
Autores principales: Yu, Xiaoling, Xiao, Kaitian
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9873363/
https://www.ncbi.nlm.nih.gov/pubmed/36712284
http://dx.doi.org/10.1016/j.frl.2023.103669
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author Yu, Xiaoling
Xiao, Kaitian
author_facet Yu, Xiaoling
Xiao, Kaitian
author_sort Yu, Xiaoling
collection PubMed
description We use the COVID-19 stringency index to investigate the relationship among COVID-19 government restriction policy, COVID-19 vaccination and stock markets. We find that the impact of the change rate of COVID-19 stringency index on stock returns turns from significant in the pre-vaccination period to insignificant in the post-vaccination period. Bad news from COVID-19 restriction policy cause more stock volatilities than good news. The advent of COVID-19 vaccination weakens the linkage of COVID-19 stringency index and stock market, while COVID-19 stringency index only plays a partially mediate role in the correlation between COVID-19 cumulative vaccination rate and stock market performance.
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spelling pubmed-98733632023-01-25 COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective Yu, Xiaoling Xiao, Kaitian Financ Res Lett Article We use the COVID-19 stringency index to investigate the relationship among COVID-19 government restriction policy, COVID-19 vaccination and stock markets. We find that the impact of the change rate of COVID-19 stringency index on stock returns turns from significant in the pre-vaccination period to insignificant in the post-vaccination period. Bad news from COVID-19 restriction policy cause more stock volatilities than good news. The advent of COVID-19 vaccination weakens the linkage of COVID-19 stringency index and stock market, while COVID-19 stringency index only plays a partially mediate role in the correlation between COVID-19 cumulative vaccination rate and stock market performance. Elsevier Inc. 2023-05 2023-01-25 /pmc/articles/PMC9873363/ /pubmed/36712284 http://dx.doi.org/10.1016/j.frl.2023.103669 Text en © 2023 Elsevier Inc. 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
Yu, Xiaoling
Xiao, Kaitian
COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title_full COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title_fullStr COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title_full_unstemmed COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title_short COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective
title_sort covid-19 government restriction policy, covid-19 vaccination and stock markets: evidence from a global perspective
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9873363/
https://www.ncbi.nlm.nih.gov/pubmed/36712284
http://dx.doi.org/10.1016/j.frl.2023.103669
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AT xiaokaitian covid19governmentrestrictionpolicycovid19vaccinationandstockmarketsevidencefromaglobalperspective

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