| Autor: |
Cao Qian, Sun Yadong, Zhang Shan, Zhang Rufei, Gao Ying |
| Jazyk: |
angličtina |
| Rok vydání: |
2024 |
| Předmět: |
|
| Zdroj: |
ITM Web of Conferences, Vol 60, p 00015 (2024) |
| Druh dokumentu: |
article |
| ISSN: |
2271-2097 |
| DOI: |
10.1051/itmconf/20246000015 |
| Popis: |
This study employs the NARDL model to investigate the asymmetric effects of COVID-19 news on the return and volatility of travel and leisure stocks in both the United States and the global context. Our findings reveal distinct longand short-term impacts of COVID-19 news on these stocks, exhibiting asymmetry and lag effects. Various types of news, including panic-inducing reports, entity-related coronavirus news, and misleading information, contribute to adjustments in travel and leisure stock returns over the long term. Notably, panic-inducing news has a more pronounced long-term impact on stock volatility compared to a higher volume of news sources reporting coronavirus-related information in similar situations. We argue that regulatory bodies can influence the stock market by ensuring the accuracy and reliability of news content. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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