在寻找COVID-19和股票市场行为的过程中
Radeef Chundakkadan1, Elizabeth Nedumparambil2
1Department of Liberal Arts, Indian Institute of Technology Bhilai, Chhattisgarh 492015, India.
概括
投资者对COVID-19的关注,以谷歌搜索量来衡量,对每日股票回报产生了负面影响. 疫情也大大增加了市场波动,特别是在发达经济体.
科学领域:
- * 金融经济学 金融经济学
- * 行为金融学
- * 流行病学 流行病学
背景情况:
- *COVID-19大流行给全球金融市场带来了前所未有的挑战.
- * 了解投资者行为及其对市场动态的影响在危机期间至关重要.
- * 投资者的注意力,通常是由新闻和公共利益驱动的,可以影响交易决策.
研究的目的:
- *调查投资者对COVID-19的关注和59个国家的每日股票回报之间的关系.
- * 检查COVID-19搜索量对市场波动的影响.
- * 为了确定影响在特定的流行病阶段或在某些国家群体中是否更明显.
主要方法:
- * 利用谷歌搜索量指数 (SVI) 作为投资者关注的代理.
- * 采用计量经济学分析来评估SVI和每日股票回报之间的关联.
- *分析了搜索量和市场波动度量之间的相关性.
主要成果:
- *发现COVID-19搜索量与每日股票回报之间存在显著的负相关性.
- *对返回者的影响在世界卫生组织宣布流行病的周最为强烈.
- * COVID-19情绪明显产生了过度的市场波动.
结论:
- * 投资者对疫情的关注,如搜索趋势所反映,与股票市场业绩下降有关.
- * 由于公众情绪和信息流动,COVID-19危机加剧了市场波动.
- * 调查结果强调了公众关注在塑造全球卫生紧急情况期间金融市场反应中的作用.
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