The impact of the Arab Spring and the Ebola outbreak on African equity mutual fund investor decisions

Giudice, Alfonso Del; Paltrinieri, Andrea

doi:10.1016/j.ribaf.2017.05.004

Cited by 90 publications

(66 citation statements)

References 40 publications

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“…Nippani and Washer [19] examined the effect of SARS on Canada, China, the particular administrative region of Hong Kong, Indonesia, China, Singapore, the Philippines, Vietnam and Thailand and concluded that SARS only affected the stock markets of China and Vietnam. Del and Paltrinieri [9] evaluated the 78 mutual equity funds geographically based in African countries with observed monthly flows and results for the 2006-2015 period and suggested that Ebola and the Arab Spring seriously affect the funds flows, controlling the performance of the funds, spending, and returns of the market. Macciocchi et al, [20] studied the short-term economic impact of the Zika virus outbreak on Brazil, Argentina and Mexico, and their results showed that, with the exception of Brazil, the market indices of these three Latin American and Caribbean Countries (LCR) did not show large negative returns the day after each shock.…”

Section: Impacts On Stock Market Performancesmentioning

confidence: 99%

“…The study shows how the fluctuations in investor mood directly affect prices for equilibrium assets and projected returns. Researchers suggest that media coverage also affects the actions of investors, the higher the number of articles relating to unexpected events, the greater the number of withdrawals [8][9][10]. Globalization has linked economies worldwide and increased the interdependence of global financial markets in recent years.…”

Section: Introductionmentioning

confidence: 99%

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The COVID-19 Outbreak and Affected Countries Stock Markets Response

Liu

Manzoor

Wang

et al. 2020

IJERPH

625

569

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This paper evaluates the short-term impact of the coronavirus outbreak on 21 leading stock market indices in major affected countries including Japan, Korea, Singapore, the USA, Germany, Italy, and the UK etc. The consequences of infectious disease are considerable and have been directly affecting stock markets worldwide. Using an event study method, our results indicate that the stock markets in major affected countries and areas fell quickly after the virus outbreak. Countries in Asia experienced more negative abnormal returns as compared to other countries. Further panel fixed effect regressions also support the adverse effect of COVID-19 confirmed cases on stock indices abnormal returns through an effective channel by adding up investors' pessimistic sentiment on future returns and fears of uncertainties.

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Section: Impacts On Stock Market Performancesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The COVID-19 Outbreak and Affected Countries Stock Markets Response

Liu

Manzoor

Wang

et al. 2020

IJERPH

625

569

View full text Add to dashboard Cite

show abstract

“…The literature shows a relationship between stock market returns and pandemic outbreaks (see, inter alia, AlAli, 2020; Bash, 2020; C.-D. Chen et al, 2009;M.-H. Chen et al, 2007;Ichev & Marinč, 2018;Park et al, 2008;and Pendell & Cho, 2013). Thus, many previous studies assert that the fluctuations in stock markets because of epidemics have brought significant economic losses to stock markets (see, inter alia, Bai, 2014;Baker et al, 2012;M.-H. Chen et al, 2007;M.-P. Chen et al, 2018;Del Giudice & Paltrinieri, 2017;Delisle, 2003;Macciocchi et al, 2016;Nippani & Washer, 2004;and Wang et al, 2013).…”

Section: Introduction I Introductionmentioning

confidence: 99%

The COVID-19 IMPACT on the ASIAN STOCK MARKETS

Gil-Alana

Claudio-Quiroga

2020

Asian Economics Letters

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In this note, we examine the impact that the COVID-19 crisis may have on the Asian stock markets by examining the statistical properties of three financial markets in Asia: namely, the Korean SE Kospi Index, the Japanese Nikkei 225, and the Chinese Shanghai Shenzhen CSI 300 Index. Using fractional integration methods, the results based on daily data indicate that mean reversion and thus transitory effects of shocks occur in the Nikkei 225 index. However, for the Kospi and Shanghai Shenzhen indices, this hypothesis is rejected, implying that shocks are permanent.

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“…It is well documented that people and societies overreact to epidemics, since news and media deliver messages about them constantly, and actual epicenters are not so well known (also, people lack first-hand experience). It is well analyzed that the Ebola outbreak in Africa, although in the end a minor event within a limited geographic area, affected mutual fund investor decisions to invest in this large continent, and investment outflows became a reality [9]. In a similar vein, the SARS epidemic in 2003 infected 8096 persons (774 deaths) in 29 countries, but its impact on the global macro-economy was 30-100 billion USD in total or 3-10 million USD per case [4].…”

Section: Literature Review: Epidemics and Effects On The Economy And mentioning

confidence: 99%

“…However, it has been mentioned in earlier research [4] that, during the SARS epidemic, Dongguan in China experienced a local one-third drop in its manufacturing business with Hong Kong. It is typical that changes in investment flows take place or orders drop, but trade has not been impacted so greatly earlier [3,8,9]. In addition, risk premiums for future investments will rise in the worst infected areas [23].…”

Section: Literature Review: Epidemics and Effects On The Economy And mentioning

confidence: 99%

Covid-19 Pandemic: Early Implications for North European Manufacturing and Logistics

et al. 2020

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From early 2020 onwards, the world has been going through an unprecedented wave of lockdowns, shutdowns, and preventive measures due to the Covid-19 pandemic. It is evident that these have been harmful for tourism, passenger transport, and the service sector in general. However, less is known regarding the implications for manufacturing and logistics, which is the purpose of this research. We concentrate on reporting survey findings from Northern Europe, and mostly from Finland. Based on trade accounts, it is evident that Covid-19 has had significant impacts on Finnish import and export. However, in survey responses, companies report that they have mostly been able to serve customers in a good fashion, and the pandemic has increased transportation costs only moderately. Inventories might experience an increase due to the virus, however, in the longer term they will likely remain at the earlier levels (or slightly increase). Companies are mostly afraid of the effects of the second wave of the epidemic, and are also already thinking about the long-term issues with transportation modes used together with supply chain dependencies. For example, the Chinese and, in part, Russian, markets are increasingly being served by railways during the current decade. For some companies (especially small and medium-sized ones) and foreign trade markets, however, the epidemic era has been very harmful. Therefore, as a conclusion we argue that the pandemic is causing rather asymmetrical impacts on manufacturing and logistics.

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The impact of the Arab Spring and the Ebola outbreak on African equity mutual fund investor decisions

Cited by 90 publications

References 40 publications

The COVID-19 Outbreak and Affected Countries Stock Markets Response

The COVID-19 Outbreak and Affected Countries Stock Markets Response

The COVID-19 IMPACT on the ASIAN STOCK MARKETS

Covid-19 Pandemic: Early Implications for North European Manufacturing and Logistics

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