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

Kamal, Javed Bin; Wohar, Mark E.

doi:10.1016/j.inteco.2022.11.001

Cited by 9 publications

(9 citation statements)

References 95 publications

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“…Bresser-Pereira (2020), Cardoso (2020) andF€ orster et al (2022) state that the COVID-19 pandemic is producing a great world economic crisis, and that it can become greater than the Great Depression which took place in the 1930s. It completely changed the way people live and interact (Pereira et al, 2021;Chhatwani and Mishra, 2021;Caporale et al, 2022;Kamal and Wohar, 2023). Pereira et al (2020) and Huong (2021) state that the new coronavirus was an exogenous shock of worldwide magnitude.…”

Section: Adverse Exogenous Shockmentioning

confidence: 99%

“…Silber (2020), Mili et al (2023) and Kamal and Wohar (2023) highlight the pandemic causes an exogenous effect in the economy, resulting in a disorder and mismatch in the economic and financial world. Miklian and Hoelscher (2021) and Kartal et al (2022) present the exogenous shock effect caused by the COVID-19 pandemic through the perspective of the micro and small companies.…”

Section: Adverse Exogenous Shockmentioning

confidence: 99%

“…(2022) state that the COVID-19 pandemic is producing a great world economic crisis, and that it can become greater than the Great Depression which took place in the 1930s. It completely changed the way people live and interact (Pereira et al ., 2021; Chhatwani and Mishra, 2021; Caporale et al ., 2022; Kamal and Wohar, 2023). Pereira et al .…”

Section: Theoretical Frame Of Referencementioning

confidence: 99%

“…Silber (2020), Tao et al . (2022), Kamal and Wohar (2023) and Wang et al . (2023) highlight those adverse exogenous shocks, such as the COVID-19 epidemic destabilizes the economy creating discrepancies in the economic world.…”

Section: Introductionmentioning

confidence: 96%

“…Liu et al (2023) emphasize that researchers view sentiments as the driving force behind positive feedback trading by investors, reflecting the influence of various elements that can intervene in the economic and financial fragility of the modern economy. Silber (2020), Tao et al (2022), Kamal and Wohar (2023) and Wang et al (2023) highlight those adverse exogenous shocks, such as the COVID-19 epidemic destabilizes the economy creating discrepancies in the economic world.…”

Section: Introductionmentioning

confidence: 99%

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Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Conceição,

Lima

2023

RBF

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PurposeIn the context of investment decisions, the intricate interplay between exogenous shocks and their influence on investor confidence significantly shapes their behaviors and, consequently, their outcomes. Investment decisions are influenced by uncertainties, exogenous shocks as well as the sentiments and confidence of investors, factors typically overlooked by decision-makers. This study will meticulously examine these multifaceted influences and discern their intricate hierarchical nuances in the sentiments of industrial entrepreneurs during the COVID-19 pandemic.Design/methodology/approachEmploying the robust framework of the generalized linear latent and mixed models (GLLAMM), this research will thoroughly investigate individual and group idiosyncrasies present in diverse data compilations. Additionally, it will delve deeply into the exogeneity of disturbances across different sectors and regions.FindingsRelevant insights gleaned from this research elucidate the adverse influence of exogenous forces, including pandemics and financial crises, on the confidence of industrial entrepreneurs. Furthermore, a significant discovery emerges in the regional analysis, revealing a notable homogeneity in the propagation patterns of industrial entrepreneurs' perceptions within the sectoral and regional context. This finding suggests a mitigation of regional effects in situations of global exogenous shocks.Originality/valueWithin the realm of academic inquiry, this study offers an innovative perspective in unveiling the intricate interaction between external shocks and their significant impacts on the sentiment of industrial entrepreneurs. Furthermore, the utilization of the robust GLLAMM captures the hierarchical dimension of this relationship, enhancing the precision of analyses. This approach provides a significant impetus for data-informed strategic directions.

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Section: Adverse Exogenous Shockmentioning

confidence: 99%

Section: Adverse Exogenous Shockmentioning

confidence: 99%

Section: Theoretical Frame Of Referencementioning

confidence: 99%

Section: Introductionmentioning

confidence: 96%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Conceição,

Lima

2023

RBF

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Analysing the impacts of unscheduled news events on stock market contagion during the epidemic

Zhang,

Zhou,

et al. 2024

Int. J Fin Econ

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This paper investigates the impact of unscheduled news announcements on market contagion during the COVID‐19 pandemic. Using coexceedance of stock returns as a metric for market contagion effect, we assess the contribution of news releases from the United States and China on the financial contagion of a representative group of global equity markets through a quantile analysis framework. The empirical results are mixed: news events originating in the United States have a greater impact on market contagion compared with those originating in China, especially at lower quantiles. Stock markets respond asymmetrically to good news versus bad news, and the latter lead to a sharper common fall among the markets than the boost to the market caused by good news. We also find evidence that conditional variance and investor sentiment play some role in the spread of financial market crises, despite differences in extent and direction.

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Asymmetric impact of COVID-19 news on the connectedness of the green energy, dirty energy, and non-ferrous metal markets

et al. 2023

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

Cited by 9 publications

References 95 publications

Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Analysing the impacts of unscheduled news events on stock market contagion during the epidemic

Asymmetric impact of COVID-19 news on the connectedness of the green energy, dirty energy, and non-ferrous metal markets

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