When the market got the first dose: Stock volatility and vaccination campaign in COVID-19 period

To, Bao Cong Nguyen; Bao, Nguyen Khac Quoc; Nguyen, Tam Van Thien

doi:10.1016/j.heliyon.2023.e12809

Cited by 12 publications

(12 citation statements)

References 40 publications

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“…With the advent of vaccines and the flurry of economic relief measures implemented by many governments, the panic that people feel has gradually become less, and they become less helpless about the impact of the pandemic. To et al (2023) also confirmed that mass vaccination brings more optimism to stabilize the economy and financial markets and that the impact of the late epidemic on the stock market is intuitively less direct and psychologically frustrating than the initial shock. The highest peak of the pandemic in Taiwan began in 2022Q1 to 2022Q3, which was part of the late stages of the global COVID-19 pandemic, providing an opportunity to examine the pandemic's impact on local stock markets in the late stage.…”

Section: Introductionmentioning

confidence: 58%

Market Efficiency and Stock Investment Loss Aversion Guide During COVID-19 Pandemic Events: The Case for Applying Data Mining

Chen,

Liu

2023

Sage Open

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This study explores the late coronavirus disease 2019 (COVID-19) pandemic, particularly, 2022Q1 to 2022Q3, to analyze the stock returns of industries expected to have a direct impact. The aim is to identify the factors influencing stock returns and to provide investment strategies, focusing on investment risk control (loss aversion). A total of 193 common stocks listed on the Taiwanese stock market were collected from four major industries: sports, restaurants, biotechnology, and epidemic prevention. Using the past information set (2021Q4): variables in three dimensions—firm characteristics, financial indicators, and corporate governance—are used to construct a stock investment strategy model. Empirical evidence shows the existence of differences in the stock investment advantages of some industries and firm characteristics and the lack of investment advantages of epidemic prevention stocks in 2020. The decision-tree model has a precision of 79.4% and an accuracy of 72.0%. The five most important factors affecting stock returns are market value, cash flow adequacy ratio, return on assets, Tobin’s Q, and price/book value. The scheme inducting three types of losses of return (loser) and one type of profit (winner) is summarized for reference. Second, it confirms the correlation between past information sets and stock returns, suggesting that Taiwan’s stock market was inefficient during the late stage of the COVID-19 pandemic. Finally, this study’s findings can be used as a reference for future fund managers and investors when handling similar events. JEL Classification: G11, G14, C88, I15

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Section: Introductionmentioning

confidence: 58%

Market Efficiency and Stock Investment Loss Aversion Guide During COVID-19 Pandemic Events: The Case for Applying Data Mining

Chen,

Liu

2023

Sage Open

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“…These results imply that vaccination announcements have a considerable and favorable impact on the world stock markets, particularly in those industries that have been severely impacted by the epidemic. Similar to this, To et al (2023) emphasized that, even before widespread immunizations start, worldwide financial markets are already reflecting the economic benefits of COVID-19 vaccine research. They looked at the role vaccination rates have in lowering volatility in the world's stock markets, using the GJR-GARCH model.…”

Section: State Of the Knowledgementioning

confidence: 64%

Investor Attention in Cryptocurrency Markets: Examining the Effects of Vaccination and COVID-19 Spread through a Wavelet Approach

Abida,

Mnif

2023

IJEFI

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The main goal of this paper is to determine how vaccination and the spread of COVID-19 have influenced investor interest in cryptocurrency. The paper quantifies the reproduction number of COVID-19 worldwide and in specific countries. It evaluates cryptocurrency volatility using various time scale frequencies by employing the Wavelet approach. Additionally, this research examines how investor interest in these sectors was impacted by immunizations and pandemic transmission. Our research demonstrates that during the COVID-19 epidemic, cryptocurrency volatility is greater across extended trade horizons and decreases following the introduction of immunizations. Furthermore, vaccination levels and the spread of COVID-19 significantly affect investor attention in the top three cryptocurrency markets. This work has several implications, such as highlighting the effect of COVID-19's spread in increasing the volatility of cryptocurrency markets and the role of vaccinations in reducing risks and increasing investor attention. The results of this study aid in forecasting bitcoin market activity and price movements, creating trading opportunities in the bitcoin market. The empirical findings will provide valuable insights for policymakers and investors, enabling them to develop better investment strategies. To the best of our knowledge, this study is the first to employ the R-number to calculate the effect of the COVID-19 vaccine and dissemination on cryptocurrency markets.

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“…However, To et al. (2023) detail that higher vaccination rates have a positive effect on global financial systems, especially in developed countries and areas with higher vaccination rates than the average developed economy.…”

Section: Introductionmentioning

confidence: 99%

“…In this manner, it may mitigate concerns about sudden reductions in capital flowing into developing countries. However, To et al (2023) detail that higher vaccination rates have a positive effect on global financial systems, especially in developed countries and areas with higher vaccination rates than the average developed economy.…”

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confidence: 99%

Banking concentration, financial openness, and financial development

Ghossoub,

Harrison,

Reed

2023

Contemporary Economic Policy

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We examine how financial development in the banking sector depends on the degree of capital account openness and the degree of bank concentration across countries. Using data on 136 countries, we find that the relationship of openness to credit market activity depends on the level of economic development. In high income countries, openness is only associated with higher credit market activity in concentrated banking systems. However, in developing countries, there is evidence that openness is associated with higher credit market activity regardless of concentration. Moreover, in contrast to previous work we examine how the impact of concentration depends on openness.

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When the market got the first dose: Stock volatility and vaccination campaign in COVID-19 period

Cited by 12 publications

References 40 publications

Market Efficiency and Stock Investment Loss Aversion Guide During COVID-19 Pandemic Events: The Case for Applying Data Mining

Market Efficiency and Stock Investment Loss Aversion Guide During COVID-19 Pandemic Events: The Case for Applying Data Mining

Investor Attention in Cryptocurrency Markets: Examining the Effects of Vaccination and COVID-19 Spread through a Wavelet Approach

Banking concentration, financial openness, and financial development

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