Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

Albuquerque, Rui; Koskinen, Yrjö; Yang, Shuai; Zhang, Chendi

doi:10.1093/rcfs/cfaa011

Cited by 763 publications

(713 citation statements)

References 31 publications

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“…However, in our study, we assessed health status before the emergency declaration, socioeconomic conditions, and changes in conditions before and after the declaration. Moreover, job loss resulting from the COVID-19 pandemic is exogenous; thus, the present study has found that job loss leads to poor HRQOL (Albuquerque et al 2020 ).…”

Section: Discussionmentioning

confidence: 65%

“…Our study has several limitations. First, we could not examine the QOL utility scores due to a lack of baseline information; however, job loss resulting from the COVID-19 pandemic is exogenous, and studies have found that job loss leads to poor HRQOL (Albuquerque et al 2020 ). Second, some of our study results might not be applicable to other countries; the influence of universal financial support on HRQOL might be different depending on the amount.…”

Section: Discussionmentioning

confidence: 99%

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Health-Related Quality of Life during COVID-19 Pandemic: Assessing Impacts of Job Loss and Financial Support Programs in Japan

Ikeda

Igarashi

Odani

et al. 2021

Applied Research Quality Life

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This cross-sectional study examined the association between job loss during the coronavirus disease 2019 (COVID-19) pandemic and health-related quality of life (HRQOL) in the Japanese working population and whether universal financial support program has a protective influence on the HRQOL. Two self-reported internet surveys were used to determine job loss during the pandemic: one was conducted between February and March 2020, just before the COVID-19 emergency declaration by the Japanese government (April 2020), and the other was conducted between August and September 2020. For the dependent variable, we used the EQ-5D-5L utility score (QOL utility score), which was assessed between August and September 2020. The independent variables were job loss after the state of emergency was declared and two types of government financial support (either universal support or support targeting childraising households). The Tobit regression model was applied, adjusting for covariates. Job loss during the pandemic was negatively associated with the QOL utility score in the fully adjusted model; the coefficient (95% confidence interval [CI]) for job loss during the pandemic was −0.07 (−0.11 to −0.03). For the government financial support variables, the universal financial support program was associated with a better QOL utility score of the coefficient (95% CI), 0.05 (0.03 to 0.08). Job loss during the COVID-19 pandemic is negatively associated with HRQOL, while universal financial support is positively associated with HRQOL. Our study results imply that universal financial support during the COVID-19 era has a protective influence on an individual's HRQOL.

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Section: Discussionmentioning

confidence: 65%

Section: Discussionmentioning

confidence: 99%

Health-Related Quality of Life during COVID-19 Pandemic: Assessing Impacts of Job Loss and Financial Support Programs in Japan

Ikeda

Igarashi

Odani

et al. 2021

Applied Research Quality Life

View full text Add to dashboard Cite

show abstract

“…4 Another rapidly growing literature explores the distinctive effects of the coronavirus pandemic on the cross-sectional structure of firm-level equity returns. Examples include Albuquerque et al (2020), Alfaro et al (2020), Davis, Hansen and Seminario (2020), Ding et al (2020), Hassan et al (2020), Pagano et al (2020), Papanikolaou and Schmidt (2020), and Ramelli and Wagner (2020). 5 6 February 2020.…”

Section: A Sources Of Data For National Outcomesmentioning

confidence: 99%

Stock Prices and Economic Activity in the Time of Coronavirus

Davis

Liu

Sheng

2021

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Stock prices and workplace mobility trace out striking clockwise paths in daily data from mid-February to late May 2020. Global stock prices fell 30 percent from 17 February to 12 March, before mobility declined. Over the next 11 days, stocks fell another 10 percentage points as mobility dropped 40 percent. From 23 March to 9 April, stocks recovered half their losses and mobility fell further. From 9 April to late May, both stocks and mobility rose modestly. This dynamic plays out across the 35 countries in our sample, with a few notable exceptions. We also find that stricter lockdown policies, both in-country and globally, drove larger declines in national stock prices conditional on pandemic severity, workplace mobility, and income support and debt relief policies. Looking more closely at the two largest economies, the pandemic had greater effects on stock market levels and volatilities in the U.S. than in China. Narrative evidence confirms the dominant-and historically unprecedented-role of pandemic-related developments for stock prices in both countries. The size of the global stock market crash in reaction to the pandemic is many times larger than a standard asset-pricing model implies.

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“… 4 Other studies that examine the various effects of COVID-19 include Albuquerque et al (2020) , and Cheng (2020) . …”

mentioning

confidence: 99%

COVID-19 pandemic and stock market response: A culture effect

Fernández-Pérez

Gilbert

Indriawan

et al. 2021

Journal of Behavioral and Experimental Finance

134

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Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

Cited by 763 publications

References 31 publications

Health-Related Quality of Life during COVID-19 Pandemic: Assessing Impacts of Job Loss and Financial Support Programs in Japan

Health-Related Quality of Life during COVID-19 Pandemic: Assessing Impacts of Job Loss and Financial Support Programs in Japan

Stock Prices and Economic Activity in the Time of Coronavirus

COVID-19 pandemic and stock market response: A culture effect

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