COVID-19 Sentiment and Chinese Stock Market: Official Media News and Sina Weibo

Duan, Yuejiao; Liu, Lanbiao; Wang, Zhuo

doi:10.2139/ssrn.3639123

Cited by 9 publications

(8 citation statements)

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“…Our findings are consistent with Duan et al (2020); they used 6.3 million textual messages from social media to measure the COVID‐19 sentiment index in China and found that it could positively predict stock returns. Sun et al (2021) also reached a similar conclusion in the Chinese stock market.…”

Section: Resultssupporting

confidence: 92%

Industries' heterogeneous reactions during the COVID‐19 outbreak: Evidence from Chinese stock markets

Liu

Dai

Huynh

et al. 2022

Financ Manag Account

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This study examines the heterogeneous effects of the COVID‐19 outbreak on stock prices in China. We confirm what is already known, that the pandemic has had a significant negative impact on stock market returns. Additionally, we find, this effect is heterogeneous across industries. Second, fear sentiment can directly cause stock prices to fall and panic exacerbates the negative impact of the pandemic on stock returns. Third, and most importantly, we demonstrate the underlying mechanisms of four firm characteristics and find that those with high asset intensity, low labor intensity, high inventory‐to‐revenue ratio, and small market value are more negatively affected than others. For labor‐intensive state‐owned firms, in particular, stock performance worsened because of higher idle labor costs. Finally, we created an index to measure the relative position of an industry in the supply chain, which shows that downstream companies were more vulnerable to the effects of the pandemic.

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Section: Resultssupporting

confidence: 92%

Industries' heterogeneous reactions during the COVID‐19 outbreak: Evidence from Chinese stock markets

Liu

Dai

Huynh

et al. 2022

Financ Manag Account

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Section: Does Fear Sentiment Matter?supporting

confidence: 86%

“…While Duan et al (2020) employed the textual analysis of 6.3 million messages on social media to conclude that the Chinese stock market is likely to overact with the growth sentiments, our findings are also consistent with the aforementioned study by using the construction methods of Da, Engelberg and Gao (2011) with Baidu searching engine. Interestingly, Burgraf et al ( 2020) applied the same method to indicate that the Bitcoin market significantly changes when the investors' sentiments fluctuate.…”

Section: Does Fear Sentiment Matter?supporting

confidence: 86%

Risk attitude, financial literacy and household consumption: Evidence from stock market crash in China

2021

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“…First, we supplement the literature that examines the impact of natural disasters such as Hurricane Katrina (Gangopadhyay et al , 2019), financial crisis (Becchetti and Ciciretti, 2011) and SARS pandemic (Nippani* and Washer, 2004), on stock markets. Second, we contribute to the exponentially growing literature on effects of COVID-19 on economic activity (Baldwin and di Mauro, 2020; Atkeson, 2020; Duan et al , 2020; Eichenbaum et al , 2020) and financial markets (Alfaro et al , 2020; Corbet et al , 2020; Zhang et al , 2020; Ramelli and Wagner, 2020; Gormsen and Koijen, 2020). Third, while the other studies discussed the impact of COVID-19 on a specific sector, e.g.…”

Section: Introductionmentioning

confidence: 99%

Examination of impact of COVID-19 on stock market: evidence from American peninsula

Amin

Arshad

Sultana

et al. 2021

JEAS

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PurposeThe rapid spread of COVID-19 has dramatic effects on financial market across the globe. This study analyzes the relationship between the COVID-19 cases, age and stock market indexes in Central America, North America, and South America.Design/methodology/approachThe panel regression analysis on three regions from March 10, 2020 to April 9, 2020 was conducted to test the hypothesized model. The authors used Levin et al.’s (2002) panel data unit root test to check the stationarity, and Hausman (1978) test was applied to determine the random and fixed effects.FindingsThe authors’ panel regression results indicate that the COVID-19 cases have a negative impact on stock indexes, whereas the age has a positive impact on the stock indexes. The region-wise analysis supports the panel finding except for South America, which shows an insignificant association between stock indexes and COVID-19 cases.Originality/valueThe study supplements the literature by examining the impact of pandemics on stock indexes and focus on three multicultural regions, comprising developed, developing and emerging countries, which are hitherto unaddressed.

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COVID-19 Sentiment and Chinese Stock Market: Official Media News and Sina Weibo

Cited by 9 publications

References 0 publications

Industries' heterogeneous reactions during the COVID‐19 outbreak: Evidence from Chinese stock markets

Industries' heterogeneous reactions during the COVID‐19 outbreak: Evidence from Chinese stock markets

Risk attitude, financial literacy and household consumption: Evidence from stock market crash in China

Examination of impact of COVID-19 on stock market: evidence from American peninsula

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