Were Stay-at-Home Orders During Covid-19 Harmful for Business? The Market’s View

Policy responses to COVID-19 and stock market reactions - An international evidence

“… Bernanke & Kuttner, 2005 ) and the literature on the stock market behavior in a time of the pandemic ( Mishkin, 2009 ). We empirically confirm the role of the lockdown policy as the “confidence booster” to the market ( Phan & Narayan, 2020 ), which supports several prior studies ( Alam et al, 2020 ; Capelle-Blancard & Desroziers, 2020 ; Chen, Dasgupta et al, 2020 ; Haroon & Rizvi, 2020 ; Narayan et al, 2021 ; Phan & Narayan, 2020 ). We also find a positive market reaction to the interest rate cut policy, confirming the results reported by Capelle-Blancard and Desroziers (2020) .…”

“…The lockdown order is shown to effectively slow down the transmission of COVID-19 ( Lau et al, 2020 ), and decrease the death numbers ( Conyon, He, & Thomsen, 2020 ). Chen, Dasgupta, Huynh, and Xia (2020) , Chen, Igan et al (2020) and Chen, Liu et al (2020) found that in the US, the returns on firms located in lockdown states had a higher return. This effect was observed in other countries as well.…”

The COVID-19 Pandemic and Commercial Property Rent Dynamics

“…First, we provide novel evidence of the impact of the COVID-19 pandemic on the commercial property market. Our study relates to the fast-growing literature examining the COVID-19 pandemic on firms and the economy (e.g., Alfaro et al 2020;Baker et al 2020;Chen et al 2020;De Vito and Gomez 2020;Gerding et al 2020;Ozili and Arun 2020;Schoenfeld 2020). In particular, we are among the first several studies on the real estate market (Akinsomi 2020;D'Lima et al 2020;Ling et al 2020;Milcheva 2020;Xie and Milcheva 2020;Van Dijk et al 2020;Zhao 2020).…”

“…Schoenfeld (2020) find that while firm managers systematically underestimate their firms' exposure to the pandemic, the vast majority of firms decreased in value at the onset of the pandemic. Chen et al (2020) show that returns are lower for firms headquartered in U.S. states following lockdown announcements, but different when the county has a high number of infections. They interpret these results as indication that government policy intervention could have mixed effects on the economy.…”

Work-Life Balance and Employee Satisfaction during COVID-19 Pandemic

“…The COVID-19 pandemic has brought new challenges to WLB amid restrictions that have affected the labor market and economic and social life in all its components. An essential change has undoubtedly been the increase in teleworking, a fact that has been reported all over the world [42][43][44][45][46][47]. In addition, the limitations of interpersonal actions and social distancing [48] have affected WLB, income level, employee satisfaction [49,50], and organizational performance [51].…”