COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective

被引：19
|
作者：
Yu, Xiaoling [1 ,2 ]
Xiao, Kaitian [3 ,4 ]
机构：
[1] Foshan Univ, Business Sch, Foshan 528000, Peoples R China
[2] Res Inst Social Sci Guangdong Prov, Res Ctr Innovat & Econ Transformat, Guangzhou, Peoples R China
[3] Simon Kuznets Kharkiv Natl Univ Econ, Dept Management & Business, Kharkiv, Ukraine
[4] Shanghai Maritime Univ, Sch Law, Shanghai, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2023年 / 53卷
关键词：
COVID-19 government restriction policy; COVID-19 stringency index; Stock market; Good volatility; Bad volatility; COVID-19; vaccination;
D O I：
10.1016/j.frl.2023.103669
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We use the COVID-19 stringency index to investigate the relationship among COVID-19 gov-ernment restriction policy, COVID-19 vaccination and stock markets. We find that the impact of the change rate of COVID-19 stringency index on stock returns turns from significant in the pre -vaccination period to insignificant in the post-vaccination period. Bad news from COVID-19 re-striction policy cause more stock volatilities than good news. The advent of COVID-19 vaccination weakens the linkage of COVID-19 stringency index and stock market, while COVID-19 stringency index only plays a partially mediate role in the correlation between COVID-19 cumulative vaccination rate and stock market performance.
引用
收藏
页数：21
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