COVID-19 and investor sentiment influence on the US and European countries sector returns

摘要: Although some studies recently address the association between COVID-19 sentiment and returns, volatility, or stock trading volume, no one conducts an analysis to measure impact of investor rationality irrationality on influence countries sectors' returns This work creates a text media combines its with outbreak cases market sector US, Europe, their main most affected by pandemic allows us perceive ranking country applies random-effects robust panel estimation, M-estimator paper concludes that US are more sensitive sentiment, thus prone irrational factors than confirmed compared Europe differently In Italy Spain as punished in apart from UK, present indexes return reactive verified cases, rationality, namely, tourism, real estate, automobile (this last Italy) The importance this resides providing new in-depth behavioral metrics among countries, which for comparison Moreover, it observing countries' asset rational expressions events, allowing arbitraging, financial planning investors, decision-makers, academia out context © 2020 LLC CPC Business Perspectives All rights reserved