COVID-19 pandemic effect on trading and returns: Evidence from the Chinese stock market

Bing, Tao; Ma, Hongkun

doi:10.1016/j.eap.2021.05.012

Cited by 24 publications

(20 citation statements)

References 110 publications

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“…Also, Babarinde (2020) finds that the pandemic was not a significant determinant of movements in stock prices in Nigeria while our finding is contrary to Bahrini & Filfilan (2020) who concluded that confirmed deaths have a negative effect on stock markets in GCC Countries. Some other extant studies (see Adenomon et al, 2020;Al-Awadhi et al, 2021;Bing & Ma, 2021;Hung et al, 2021;Yong et al, 2021) also concluded that stock market returns persistently decrease during the pandemic.…”

Section: Impact Analysis Of Covid-19 Pandemic With Adl-midas Regressionmentioning

confidence: 96%

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Akinbobola¹,

Awosoga²,

Babalola³

et al. 2022

RAE

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We empirically conducted a distinct analysis of the efficiency of the stock market before and during the Covid-19 pandemic in Nigeria as well as the impact of the Covid-19 pandemic on several indicators of stock market performance. Data were collected on stock variables on monthly basis for the pre-Covid-19 era (2018M02 to 2020M01) and Covid-19 pandemic era (2020M02 to 2022M01) from the Central Bank of Nigeria Statistical Bulletin, while data on the numbers of daily new confirmed cases (New cases and deaths) as well as the government response stringency index on COVID-19 pandemic were obtained from Our World in Data (OWID). We leveraged numerous advantages of the Data Envelopment Analysis (DEA) to estimate stock market efficiency before and during the Covid-19 pandemic for the purpose of comparison. Also, we employed the Autoregressive Distributed Lag Mixed Data Sampling (ADL-MIDAS) approach to conduct the impact analysis of the Covid-19 pandemic on stock market performance. We found that, in terms of efficiency, the stock market was more efficient during the Covid-19 pandemic than in the pre-Covid-19 era, being the only active market among other financial markets especially when several restrictions and total lockdown were imposed. In terms of returns and volatility, the study concluded that the Covid-19 pandemic did not significantly influence Nigeria’s stock market performance negatively. However, the government stringency measures had a significant positive impact on the stock market return in Nigeria. Our findings are instructive to policymaking and financial regulation.

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Section: Impact Analysis Of Covid-19 Pandemic With Adl-midas Regressionmentioning

confidence: 96%

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Akinbobola¹,

Awosoga²,

Babalola³

et al. 2022

RAE

View full text Add to dashboard Cite

show abstract

“…Unlike prior literature, we investigate the impact of sentiment resulted from the change of COVID-19, which is a focus of society. Existing studies show that the COVID-19 epidemic can affect the capital market significantly, such as the analyst's forecasts ( Zhang et al, 2022 ), trading and returns ( Bing and Ma, 2021 ), and individual investor sentiment ( Sun et al, 2021 ). More specifically, apart from the whole sentiment under the environment of COVID-19, we capture the more detailed sentiment using various fields of news about COVID-19, including the medical, travelling, uncertain and vaccines’ aspects.…”

Section: Prior Literature and Hypotheses Developmentmentioning

confidence: 99%

Firms' exposures on COVID-19 and stock price crash risk: Evidence from China

Kong

Jin

Liu

et al. 2023

Finance Research Letters

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“…The expected rate of return obtained by regression of actual data is as follows: (4) where, are ordinary least squares (OLS) estimate values, is the expected return rate of index j on the trading day t.…”

Section: Research Modelmentioning

confidence: 99%

“…Bing and Ma focused on how institutional and foreign investors respond to the event of COVID-19 in China and mainly analysed the flow-return relationship before and during the pandemic. The results showed that foreign investors played a market stabilization role, whereas institution investors didn't [4]. Cristian et al focused on the volatility of daily returns on the Romanian stock market during one period of COVID-19.…”

Section: Introductionmentioning

confidence: 99%

COVID–19’s Impact on the Chinese Stock Market

Wang¹

2022

Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)

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The COVID-19 has had an uncertain impact on the world's stock markets, bringing challenges or opportunities to all industries. This article adopts the descriptive statistical analysis and an event study approach to evaluate whether and how the COVID-19 has affected the animation, comic, and game (ACG) industry in China and discusses the possible reasons for the empirical results. The study found that COVID-19 has a significant positive impact on China's ACG industry and the reasons for this phenomenon can be explained by the development status of China's ACG industry and the impact of the policies of lockdown and quarantine during the event. In response to this result, timely risk warnings to ensure market security are important and investors are suggested to pay attention to the impact of policy changes on the market. This article will play a certain reference significance for future investors to deal with similar events.

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COVID-19 pandemic effect on trading and returns: Evidence from the Chinese stock market

Cited by 24 publications

References 110 publications

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Impact Analysis of Pandemic on Nigeria’s Stock Market Performance

Firms' exposures on COVID-19 and stock price crash risk: Evidence from China

COVID–19’s Impact on the Chinese Stock Market

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