Management
Rajiv Giri
Abstract
This paper examines the impact of COVID-19 lockdown on daily stock returns of banks and financial institutions (BFI) in Nepal. Employing the panel data regression models, this study examines the effect of daily COVID-19 positive cases to the stock returns – during pre-lockdown, lockdown, and after-lockdown ...
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This paper examines the impact of COVID-19 lockdown on daily stock returns of banks and financial institutions (BFI) in Nepal. Employing the panel data regression models, this study examines the effect of daily COVID-19 positive cases to the stock returns – during pre-lockdown, lockdown, and after-lockdown period – of 74 listed firms in Nepal from 2 May 2019 to 25 April 2021. The empirical results confirm that there was no significant impact of daily increased number of COVID-19 positive cases to the stock returns of BFIs in Nepal throughout the entire study period. Furthermore, this study inquires the influence of pandemic period to the individual class of the BFIs sector in NEPSE[1]. It discloses that the commercial banks, development banks and microfinance companies’ stock returns were adversely impacted during the pre-lockdown and lockdown period. However, after-lockdown period had significantly rebounded the overall BFIs stock returns in Nepal with the highest returns earned by microfinance companies and lowest return by commercial banks. [1] Nepal Stock Exchange Limited
Mohammadreza Vatanparast; Sara Zaynalpour Ahrabi
Volume 5, Issue 11 , November 2018, , Pages 889-904
Abstract
To expand the financial literature and also in view of the necessity of updating in today's knowledge of the world, this research examines one of the most recent issues of financial management, means science of behavioural finance that is dedicated to the behavioral character of the capital market and ...
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To expand the financial literature and also in view of the necessity of updating in today's knowledge of the world, this research examines one of the most recent issues of financial management, means science of behavioural finance that is dedicated to the behavioral character of the capital market and the study of the behavioral and psychological aspects of the capital market. In this field, one of the interesting topics is the calendar effects that deal with the anomalies in behavior and performance of market in different times of day, week, month and year. The problem that follows in this study is to investigate the relationship between weekdays, including the categories of periodic or calendar effects, on stock returns, and claims that there are heterogeneous returns on different days of the week, at that time, it would be possible to generate extra returns by formulating strategies for these daily patterns. To achieve this goal, five hypotheses have been formulated and 160 companies were selected from listed companies in the Tehran Stock Exchange for a period of 5 years, 2012 to 2016. The method of this research is applied and descriptive-correlational. To test the hypotheses, linear regression model and panel data are used. The results of testing the hypotheses show that there is a significant relationship between calendar events and stock returns and the effect of Tuesday has been significant in estimations.