Sukuk returns dynamics under bullish and bearish market conditions: do COVID-19 related news and government measures matter?

Nader Naifar

Applied Economics Letters, 2023, vol. 30, issue 7, 875-883

Abstract: The rapid and far-reaching spread of COVID-19 related news can alter investors’ perceptions and investment behaviour and affect security returns. We investigate this hypothesis by studying the impact of COVID-19 related news (panic news, media-hype new, fake news, infodemic, and Stringency measures) and alternative measures of COVID-19 developed by Narayan et al. (2021) on Sukuk returns during different market conditions. Empirical results show asymmetric comovement between global Sukuk returns, panic news, travel bans, and the percentage of information about the novel COVID-19 pandemic. Moreover, the COVID-19 news affects the Sukuk returns only when the sukuk markets are bearish. The Sukuk returns are not affected by medical and vaccine information, and the aggregate COVID-19 index that captures the pandemic sentiment.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2022.2027860 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:30:y:2023:i:7:p:875-883

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2022.2027860

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().