World capital markets facing the first wave of COVID-19: Traditional event study versus sensitivity to new cases

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2022-12-01 DOI:10.18559/ebr.2022.4.2

P. L. Angosto-Fernández, Victoria Ferrández-Serrano

引用次数: 0

Abstract

Abstract The aim of the paper is to analyse the impact of the new coronavirus on financial markets. The sample comprises returns from 80 countries, across all regions and incomes for the period known as the first wave. By combining event study methodology and time series analysis of new COVID-19 cases it is found that the negative price effect is widespread but unequal across regions. It is also noted that the distribution of the impact is also uneven with a high concentration in the week after the first local case but especially in the weeks around the pandemic declaration. Finally, it has been shown at different levels how the markets most affected by the crisis are not necessarily the most sensitive to the virus.

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面对第一波COVID-19的世界资本市场:传统事件研究与对新病例的敏感性

本文的目的是分析新型冠状病毒对金融市场的影响。样本包括来自80个国家的回报，涵盖所有地区和第一波时期的收入。通过将事件研究方法与新冠肺炎病例时间序列分析相结合，发现价格负效应普遍存在，但各地区之间不平等。还注意到，影响的分布也不均匀，在第一例当地病例出现后的一周内高度集中，但在宣布大流行前后的几周内尤其如此。最后，在不同层面上显示，受危机影响最严重的市场不一定对病毒最敏感。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.