Global financial crisis and COVID-19: Industrial reactions

Hsuan-Chi Chen and Chia-Wei Yeh

Finance Research Letters, 2021, vol. 42, issue C

Abstract: We study industrial reactions to both the global financial crisis of 2008 and the COVID-19 pandemic. Although most industries in the U.S. suffered from the two events, the stock performance of most industries started to recover following the announcements of quantitative easing. Our results indicate that quantitative easing is effective in boosting investor confidence. We also find that the effect of quantitative easing in 2020 on stock performance is more significant for the industries that are more affected by the pandemic.

Keywords: Global financial crisis; COVID-19; Quantitative easing; Stock market (search for similar items in EconPapers)
JEL-codes: E52 G00 G01 G14 G18 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:42:y:2021:i:c:s1544612321000210

DOI: 10.1016/j.frl.2021.101940

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