Attention to Authority: The behavioural finance of Covid-19

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BURKE, Matthew, FRY, John, KEMP, Sean and WOODHOUSE, Drew (2022). Attention to Authority: The behavioural finance of Covid-19. Finance Research Letters, 49: 103081.

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Official URL: https://www.sciencedirect.com/science/article/pii/...
Open Access URL: https://www.sciencedirect.com/science/article/pii/... (Published version)
Link to published version:: https://doi.org/10.1016/j.frl.2022.103081

Abstract

In this paper we investigate the predictability of cryptocurrency returns following increases in Covid-19 cases/deaths. We find that the rate of government intervention moderates the impact that Covid-19 cases/deaths have on cryptocurrency returns. We show that in periods of tightening government intervention, increases in Covid-19 cases positively predict cryptocurrency returns. We argue that this is due to investors imputing their expectations of the pandemic through a ‘combined’ signal.

Item Type: Article
Uncontrolled Keywords: 1502 Banking, Finance and Investment; Finance
Identification Number: https://doi.org/10.1016/j.frl.2022.103081
SWORD Depositor: Symplectic Elements
Depositing User: Symplectic Elements
Date Deposited: 27 Jun 2022 14:20
Last Modified: 12 Oct 2023 11:15
URI: https://shura.shu.ac.uk/id/eprint/30376

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