Article: How important is social trust during the COVID-19 crisis period? Evidence from the Fed announcements.
Journal of behavioral and experimental finance
2020 Volume 28, Page(s) 100387
Abstract: During the COVID-19 crisis period, firms headquartered in high social trust US states perform better than their counterparts from the low social trust states. Stock returns over the crisis period are 3 to 4 percentage points higher, on average, if social ...
Abstract | During the COVID-19 crisis period, firms headquartered in high social trust US states perform better than their counterparts from the low social trust states. Stock returns over the crisis period are 3 to 4 percentage points higher, on average, if social trust increases by one standard deviation. The association is stronger for firms of more affected industries (COVID-19 industries). More specifically, a one standard deviation increase of social trust associates with a 6.45% increase of |
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Keywords | covid19 |
Language | English |
Publishing date | 2020-08-26 |
Publishing country | Netherlands |
Document type | Journal Article |
ISSN | 2214-6350 |
ISSN | 2214-6350 |
DOI | 10.1016/j.jbef.2020.100387 |
Database | MEDical Literature Analysis and Retrieval System OnLINE |
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