COVID-19 对全球投资者关注度的影响

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2024-09-07 DOI:10.1016/j.pacfin.2024.102522

Zih-Ying Lin, Jia-Wen Lu

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引用次数: 0

摘要

本研究利用 G7 和 G20 国家的数据探讨了 COVID-19 对全球投资者关注度的影响。我们用 COVID-19 新确诊病例数和死亡数来衡量 COVID-19 的水平。实证研究结果表明，COVID-19 新增病例和死亡人数与（异常）投资者关注度显著正相关，尤其是在 G7 国家，但我们只在少数 G20 国家看到显著正相关。我们进一步考虑了 COVID-19 变体和疫苗接种率对这种相关性的影响，并发现其对全球投资者关注度的影响在阿尔法变体和德尔塔变体波期间更为明显。最后，我们提供的证据表明，当疫苗接种率较高时，COVID-19 与全球投资者关注度之间的正相关关系会减弱。

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The impact of COVID-19 on global investor attention

This research explores the effect of COVID-19 on global investor attention using data from G7 and G20 countries. We take the numbers of COVID-19 new confirmed cases and deaths to measure the level of COVID-19. The empirical findings show that COVID-19 new cases and deaths significantly positively correlate to (abnormal) investor attention, especially for G7 countries, but we only see a significantly positive correlation in a few G20 countries. We further consider the effect of COVID-19 variants and vaccination rate on such a correlation and present that its effect on global investor attention is more pronounced during the Alpha variant and Delta variant waves. Finally, we provide evidence when vaccination rates are higher that the positive COVID-19 and global investor attention nexus weakens.

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来源期刊

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.