Robo advisors, algorithmic trading and investment management: Wonders of fourth industrial revolution in financial markets

Tao, Ran; Su, Chi‐Wei; Xiao, Yidong; Dai, Ke; Khalid, Fahad

doi:10.1016/j.techfore.2020.120421

Cited by 102 publications

(49 citation statements)

References 41 publications

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“…Our sample period is from January 1, 2010 to March 10, 2021 2 . These stock markets are selected because they are the markets where there was enough trading information for constituent stocks of market index during the sample period and were impacted by COVID-19 in Eastern European countries 3 .…”

Section: Datamentioning

confidence: 99%

“…The Thomson company is located in Stamford, CT, USA 2. This study considers January 1, 2010 as the initial date of our sample period because we avoid the harmful impact of the subprime financial crisis period, and most stock markets in Eastern European countries became active after the financial crisis 3. The date of the first COVID-19 confirmed case in these countries are shown in Table1.…”

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confidence: 99%

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The Effect of COVID-19 on Herding Behavior in Eastern European Stock Markets

Fang

Chung

Lee

et al. 2021

Front. Public Health

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Unlike past health crises that were more localized, the highly contagious coronavirus disease 2019 (COVID-19) crisis is impacting the world to an unprecedented extent. This is the first study examining how and whether the COVID-19 pandemic affects herding behavior in the Eastern European stock markets. Using samples from the stock markets of Russia, Poland, the Czech Republic, Hungary, Croatia, and Slovenia from January 1, 2010 to March 10, 2021, we demonstrate that the COVID-19 pandemic has increased herding behavior in all the sample stock markets. Our results show that the COVID-19 crisis reinforces the impact of global market returns on herding behavior in these specific stock markets. We find that COVID-19 strengthens the spillover effect of regional herding on herding behavior. Thus, financial authorities should monitor investors in the stock market to avoid the increase in herding behavior as well as the reinforcement of the global market returns and regional return dispersion on herding during the period of pandemic.

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Section: Datamentioning

confidence: 99%

mentioning

confidence: 99%

The Effect of COVID-19 on Herding Behavior in Eastern European Stock Markets

Fang

Chung

Lee

et al. 2021

Front. Public Health

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“…We are on the cusp of a fourth industrial revolution, in which human-capable jobs are being replaced by automated algorithms, and robots are outperforming humans at complex tasks like robo advisers ( 4 ). Economic development is increasingly dependent on automation, more and more jobs are being replaced, and excessive life stress leads to a common state of subhealth.…”

Section: Introductionmentioning

confidence: 99%

Threshold Effect of the Government Intervention in the Relationship Between Business Cycle and Population Health: Evidence From China

Chai

Yang

Cui

et al. 2021

Front. Public Health

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China is an emerging country, and government intervention is always considered as an important part of the solutions when people facing challenges in China. Under the impact of the coronavirus disease 2019 (COVID-19) epidemic and the global economic downturn, the Chinese government quickly brought the epidemic under control and restored the positive economic growth through strong intervention. Based on the panel data of provincial level in China and the government intervention as the threshold variable, this paper empirically analyzed the non-linear effect of business cycle on population health by using the panel threshold regression model. The empirical results show that the impact of the business cycle on population health is significantly negative, and government intervention has a single threshold effect on the relationship between business cycle and population health. When the government intervention is below the threshold value, the business cycle has a significant negative effect on the improvement of the population health level; when the level of government intervention exceeds the threshold value, the relationship between business cycle and population health becomes significantly positive. To some extent, the conclusions of this paper can guide the formulation and revision of government health policy and help to adjust the direction and intensity of government intervention. The Chinese government and other governments of emerging countries should do more to harness the power of state intervention in their response to the business cycle.

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“…This state of being affects a common persons' expenditure patterns as well (Haroon & Rizvi, 2020). A sane representation of the investment or expenditure pattern can be assessed from the stock market patterns, as this market comprises of the rational and sophisticated people who reasonably anticipate any future trends, and earn profits accordingly (Ashraf, 2020b;Tao et al, 2021;Umar, Ji, et al, 2021).…”

Section: Review Of Related Literaturementioning

confidence: 99%

How COVID19 pandemic affect film and drama industry in China: an evidence of nonlinear empirical analysis

Yue

Teresienė

et al. 2021

Economic Research-Ekonomska Istraživanja

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With its contiguous nature, paired with the people's fear and anxiety, the Covid-19 outbreak has become a lethal combination, which despite the lower death ratio, has led to unanticipated financial and economic repercussions that have eventually disturbed the life of every single human being around the globe. In this very context, enterprises that belong to the fields of entertainment, tourism, lodging, dining, hotels, and restaurants have been found to be at a higher risk, as such operations are harshly affected during such unanticipated situations. Hence, based on this notion, the present study has been conducted, in order to precisely identify the effect on China's film and drama industry's stock returns, due to the outburst of the COVID-19 pandemic. Therefore, based on the time-series data from China, spanning from the time period of 01-Jan-2020 to 15-Mar-2021, the quantile autoregressive distributed lag method (QARDL) method has been applied, as the preferred statistical technique for this study. The results have reported that there happens to be a negative impact of the COVID-19 pandemic, on the industry across all the considered quantiles, representing the bearish, normal, and bullish market conditions. Therefore, based on these findings, the government regulations' full compliance regarding social distancing and health assurance has been recommended.

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Robo advisors, algorithmic trading and investment management: Wonders of fourth industrial revolution in financial markets

Cited by 102 publications

References 41 publications

The Effect of COVID-19 on Herding Behavior in Eastern European Stock Markets

The Effect of COVID-19 on Herding Behavior in Eastern European Stock Markets

Threshold Effect of the Government Intervention in the Relationship Between Business Cycle and Population Health: Evidence From China

How COVID19 pandemic affect film and drama industry in China: an evidence of nonlinear empirical analysis

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