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Purpose Capital markets are the backbone of an economy. COVID-19 has created an unacceptable and unpredictable economic environment worldwide, resulting in a significant setback for securities exchanges. India also experienced two waves of this pandemic, which led to a significant downturn in the capital market. Design/Methodology/Approach Researchers have endeavored to study the impact of the first and second waves of COVID-19 on the performance of various sectoral stocks in India. The performance of selected sectoral indices of the Bombay Stock Exchange was compared with the market performance of the S&P BSE 100. An event study was conducted to analyze the normal return, abnormal return (A.R.), and t-statistics of A.R. for various sectoral stocks. In addition, the abnormal returns of sectoral stocks between the first and second waves of COVID-19 in India were compared Findings The results of the tests showed heterogeneous A.R. between different sectors in both the first and second waves of COVID-19 in India. Positive investor outlook and government financial support programs for various sectors helped them recover from the second wave of COVID-19. Research limitations/implications The study analyzed the impact of the peak of the first and second waves of COVID-19 on selected sectoral indices. There may be several reasons for the performance of this particular stock index. However, we have tried to analyze the best possible reasons for this turbulence in the performance of stocks of selected sectoral indices. The study can be further analyzed to examine the long-term impact of such a pandemic on other sectors. Originality/value The study is based on the panic behavior of investors during such a pandemic. No one was prepared for this and expected this pandemic to last this long. This pandemic has taught so many lessons to everyone involved. Investors need to be prepared and cautious for such unforeseen disasters before making any investment decision. They need to analyze which industry can survive under such circumstances, and then they should invest there. Industries and enterprises must adapt and improve by honestly looking at their weaknesses and trying to meet investors' expectations.
Purpose Capital markets are the backbone of an economy. COVID-19 has created an unacceptable and unpredictable economic environment worldwide, resulting in a significant setback for securities exchanges. India also experienced two waves of this pandemic, which led to a significant downturn in the capital market. Design/Methodology/Approach Researchers have endeavored to study the impact of the first and second waves of COVID-19 on the performance of various sectoral stocks in India. The performance of selected sectoral indices of the Bombay Stock Exchange was compared with the market performance of the S&P BSE 100. An event study was conducted to analyze the normal return, abnormal return (A.R.), and t-statistics of A.R. for various sectoral stocks. In addition, the abnormal returns of sectoral stocks between the first and second waves of COVID-19 in India were compared Findings The results of the tests showed heterogeneous A.R. between different sectors in both the first and second waves of COVID-19 in India. Positive investor outlook and government financial support programs for various sectors helped them recover from the second wave of COVID-19. Research limitations/implications The study analyzed the impact of the peak of the first and second waves of COVID-19 on selected sectoral indices. There may be several reasons for the performance of this particular stock index. However, we have tried to analyze the best possible reasons for this turbulence in the performance of stocks of selected sectoral indices. The study can be further analyzed to examine the long-term impact of such a pandemic on other sectors. Originality/value The study is based on the panic behavior of investors during such a pandemic. No one was prepared for this and expected this pandemic to last this long. This pandemic has taught so many lessons to everyone involved. Investors need to be prepared and cautious for such unforeseen disasters before making any investment decision. They need to analyze which industry can survive under such circumstances, and then they should invest there. Industries and enterprises must adapt and improve by honestly looking at their weaknesses and trying to meet investors' expectations.
Background The appearance of the COVID-19 virus in December 2019, quickly escalated into a global crisis, prompting the World Health Organization to recommend regional lockdowns. While effective in curbing the virus’s spread, these measures have triggered intense debates on social media platforms, exposing widespread public anxiety and skepticism. The spread of fake news further fueled public unrest and negative emotions, potentially undermining the effectiveness of anti-COVID-19 policies. Exploring the narratives surrounding COVID-19 on social media immediately following the lockdown announcements presents an intriguing research avenue. The purpose of this study is to examine social media discourse to identify the topics discussed and, more importantly, to analyze differences in the focus and emotions expressed by the public in two countries (the UK and India). This is done with an analysis of a big corpus of tweets. Methods The datasets comprised of COVID-19-related tweets in English, published between March 29th and April 11th 2020 from residents in the UK and India. Methods employed in the analysis include identification of latent topics and themes, assessment of the popularity of tweets on topic distributions, examination of the overall sentiment, and investigation of sentiment in specific topics and themes. Results Safety measures, government responses and cooperative supports are common themes in the UK and India. Personal experiences and cooperations are top discussion for both countries. The impact on specific groups is given the least emphasis in the UK, whereas India places the least focus on discussions related to social media and news reports. Supports, discussion about the UK PM Boris Johnson and appreciation are strong topics among British popular tweets, whereas confirmed cases are discussed most among Indian popular tweets. Unpopular tweets in both countries pay the most attention to issues regarding lockdown. According to overall sentiment, positive attitudes are dominated in the UK whilst the sentiment is more neutral in India. Trust and anticipation are the most prevalent emotions in both countries. In particular, the British population felt positive about community support and volunteering, personal experiences, and government responses, while Indian people felt positive about cooperation, government responses, and coping strategies. Public health situations raise negative sentiment both in the UK and India. Conclusions The study emphasizes the role of cultural values in crisis communication and public health policy. Individualistic societies prioritize personal freedom, requiring a balance between individual liberty and public health measures. Collectivistic societies focus on community impact, suggesting policies that could utilize community networks for public health compliance. Social media shapes public discourse during pandemics, with popular and unpopular tweets reflecting and reshaping discussions. The presence of fake news may distort topics of high public interest, necessitating authenticity confirmation by official bloggers. Understanding public concerns and popular content on social media can help authorities tailor crisis communication to improve public engagement and health measure compliance.
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