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COVID-19 Cases, Media Attention and Social Mood

Author

Listed:
  • Steven Buigut

    (Faculty of Management, Canadian University Dubai, City Walk Mall, Dubai, UAE,)

  • Burcu Kapar

    (School of Business Administration, American University in Dubai, UAE.)

Abstract

The study uses rolling regressions, both at global and country level, to analyze the impact of daily Covid-19 case numbers on four (Panic, Sentiment, Media coverage, and Fake news) indices. The indices are obtained from the Ravenpack Finance, while the daily Covid-19 cases and the policy response stringency index data is extracted from the Oxford COVID-19 Government Response Tracker. The results indicate that the impact of the number of daily Covid-19 cases on the indices is quite variable over time. Higher impact on the indices is reflected in periods where there is a significant surge in cases, in particular the initial surge in Spring, Summer and Fall. There is some evidence of diminished (increased) sensitivity of panic and media indices (fake news) to number of cases but this is not consistent across all countries. These results indicate that the public are concerned and respond to changes in the trends of the spread of the virus and highlight the importance of managing trends if halting its spread is not immediately feasible.

Suggested Citation

  • Steven Buigut & Burcu Kapar, 2021. "COVID-19 Cases, Media Attention and Social Mood," International Journal of Economics and Financial Issues, Econjournals, vol. 11(4), pages 66-72.
    • Handle: RePEc:eco:journ1:2021-04-8
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    References listed on IDEAS

    as
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    Cited by:

    1. Sijia Zhao & Ying Liu & Benfu Lv & Zijian Shangguan, 2022. "How Government Information Release Affect Stock Market during Dramatic Public Health Shocks? The Intermediating Role of Public Sentiment," International Journal of Economics and Financial Issues, Econjournals, vol. 12(3), pages 60-67, May.
    2. Steven Buigut and Burcu Kapar, 2022. "Do COVID-19 Incidence and Government Intervention Influence Media Indices?," Bulletin of Applied Economics, Risk Market Journals, vol. 9(2), pages 79-100.
    3. Ştefan Cristian Gherghina & Liliana Nicoleta Simionescu, 2023. "Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-58, December.

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    More about this item

    Keywords

    COVID-19; Ravenpack Indices; Media Attention; Stringency Index;
    All these keywords.

    JEL classification:

    • G40 - Financial Economics - - Behavioral Finance - - - General
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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