The Social Network Volume of COVID-19 and Stock Market Response

Chih-Yu Chin, Chia-Hsien Tang and Yen-Hsien Lee

Journal of Applied Finance & Banking, 2020, vol. 10, issue 6, 4

Abstract: This study applies volume of social network activity to examine whether positive or negative social network volume relating to coronavirus (COVID-19) can stimulate stock performance. It also examines whether a professional manager with abundant cash holdings can buffer against an outbreak of COVID-19. The empirical evidence indicates that social network volume can impact stock performance, and firms operated by a professional manager with abundant cash holdings can buffer against an outbreak of COVID-19. This study offers a different perspective on the effect of an epidemic on the economy and risk avoidance strategies regarding similar epidemics in the future. JEL classification numbers: G11, G14, I10, I18.

Keywords: Coronavirus Disease (COVID-19), Social Network; Stock Returns, Tourism Sector. (search for similar items in EconPapers)
Date: 2020
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