| Autor: |
Adil, Masudul Hasan, Haider, Salman |
| Předmět: |
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| Zdroj: |
International Journal of Social Economics; 2024, Vol. 51 Issue 9, p1123-1135, 13p |
| Abstrakt: |
Purpose: The present study empirically examines the impact of coronavirus disease 2019 (COVID-19) and policy uncertainty on stock prices in India during the COVID-19 pandemic. Design/methodology/approach: To this end, the authors use the daily data by applying the autoregressive distributed lag (ARDL) model, which tests the short- and long-run relationship between stock price and its covariates. Findings: The study finds that increased uncertainty has adverse short- and long-run effects on stock prices, while the vaccine index has favorable effects on stock market recovery. Practical implications: From investors' perspectives, volatility in the Indian stock market has negative repercussions. Therefore, to protect investors' sentiments, policymakers should be concerned about the uncertainty induced by the COVID-19 pandemic and similar other uncertainty prevailing in the financial markets. Originality/value: This study used the news-based COVID-19 index and vaccine index to measure recent pandemic-induced uncertainty. The result carries some policy implications for an emerging economy like India. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0244 [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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