1.
Financ Res Lett
; 52: 103562, 2023 Mar.
Artigo
em Inglês
| MEDLINE
| ID: mdl-36471778
RESUMO
This study examines the impact of firms' exposures on COVID-19 sentiment on the stock price crash risk. We show the exposure on COVID-19 sentiment related to the medical, travelling and uncertain aspects significantly increases the stock price crash risk, while the exposure on COVID-19 sentiment related to vaccines significantly decreases the risk of stock price crash. Furthermore, our findings are stronger for non-state-owned firms and firms with low information transparency. Overall, we provide timely policy implication for economic impacts of the COVID-19 on the stock market.