Attention to Authority: The behavioural finance of Covid-19

【Author】 Burke, Matt; Fry, John; Kemp, Sean; Woodhouse, Drew

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【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 tight-ening 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.

【Keywords】Covid-19; Asset pricing; Cryptocurrency

【发表时间】2022 OCT

【收录时间】2022-08-15

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币