Trust and stock market volatility during the COVID-19 crisis

被引：124

作者：

Engelhardt, Nils ^{[1
]}

Krause, Miguel ^{[1
]}

Neukirchen, Daniel ^{[1
]}

Posch, Peter N. ^{[1
]}

机构：

[1] TU Dortmund Univ, Fac Business & Econ, Chair Finance, Otto Hahn Str 6, D-44227 Dortmund, Germany

来源：

FINANCE RESEARCH LETTERS | 2021年 / 38卷

关键词：

COVID-19; Trust; Financial markets; Volatility;

D O I：

10.1016/j.frl.2020.101873

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate if trust affects global stock market volatility during the COVID-19 pandemic. Using a sample of 47 national stock markets, we find the stock markets' volatility to be significantly lower in high-trust countries (in reaction to COVID-19 case announcements). Both trust in fellow citizens as well as in the countries' governments are of significant importance.

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