Diverse investor reactions to the COVID-19 pandemic : insights from an emerging market
Autor*in: |
Neupane, Suman [verfasserIn] Fan, Zhebin [verfasserIn] Yanes Sanchez, Daniel [verfasserIn] Neupane, Biwesh [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2024 |
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Schlagwörter: |
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Übergeordnetes Werk: |
Enthalten in: Journal of international financial markets, institutions & money - Amsterdam : Elsevier, 1997, 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 |
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Übergeordnetes Werk: |
volume:93 ; year:2024 ; month:06 ; elocationid:102000 ; pages:1-24 |
Links: |
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DOI / URN: |
10.1016/j.intfin.2024.102000 |
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Katalog-ID: |
1896577164 |
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982 | |2 26 |1 00 |x DE-206 |b We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
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10.1016/j.intfin.2024.102000 doi (DE-627)1896577164 (DE-599)KXP1896577164 DE-627 ger DE-627 rda eng Neupane, Suman verfasserin aut Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 Fan, Zhebin verfasserin (DE-588)1343088070 (DE-627)1903426510 aut Yanes Sanchez, Daniel verfasserin aut Neupane, Biwesh verfasserin aut Enthalten in Journal of international financial markets, institutions & money Amsterdam : Elsevier, 1997 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 Online-Ressource (DE-627)320601811 (DE-600)2020265-9 (DE-576)259485160 1873-0612 nnns volume:93 year:2024 month:06 elocationid:102000 pages:1-24 https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.intfin.2024.102000 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 93 2024 6 102000 1-24 26 01 0206 4557286542 x1z 26-07-24 2403 01 DE-LFER 4566448304 00 --%%-- --%%-- n --%%-- l01 15-08-24 2403 01 DE-LFER https://doi.org/10.1016/j.intfin.2024.102000 2403 01 DE-LFER https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf 26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
spelling |
10.1016/j.intfin.2024.102000 doi (DE-627)1896577164 (DE-599)KXP1896577164 DE-627 ger DE-627 rda eng Neupane, Suman verfasserin aut Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 Fan, Zhebin verfasserin (DE-588)1343088070 (DE-627)1903426510 aut Yanes Sanchez, Daniel verfasserin aut Neupane, Biwesh verfasserin aut Enthalten in Journal of international financial markets, institutions & money Amsterdam : Elsevier, 1997 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 Online-Ressource (DE-627)320601811 (DE-600)2020265-9 (DE-576)259485160 1873-0612 nnns volume:93 year:2024 month:06 elocationid:102000 pages:1-24 https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.intfin.2024.102000 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 93 2024 6 102000 1-24 26 01 0206 4557286542 x1z 26-07-24 2403 01 DE-LFER 4566448304 00 --%%-- --%%-- n --%%-- l01 15-08-24 2403 01 DE-LFER https://doi.org/10.1016/j.intfin.2024.102000 2403 01 DE-LFER https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf 26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
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10.1016/j.intfin.2024.102000 doi (DE-627)1896577164 (DE-599)KXP1896577164 DE-627 ger DE-627 rda eng Neupane, Suman verfasserin aut Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 Fan, Zhebin verfasserin (DE-588)1343088070 (DE-627)1903426510 aut Yanes Sanchez, Daniel verfasserin aut Neupane, Biwesh verfasserin aut Enthalten in Journal of international financial markets, institutions & money Amsterdam : Elsevier, 1997 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 Online-Ressource (DE-627)320601811 (DE-600)2020265-9 (DE-576)259485160 1873-0612 nnns volume:93 year:2024 month:06 elocationid:102000 pages:1-24 https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.intfin.2024.102000 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 93 2024 6 102000 1-24 26 01 0206 4557286542 x1z 26-07-24 2403 01 DE-LFER 4566448304 00 --%%-- --%%-- n --%%-- l01 15-08-24 2403 01 DE-LFER https://doi.org/10.1016/j.intfin.2024.102000 2403 01 DE-LFER https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf 26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
allfieldsGer |
10.1016/j.intfin.2024.102000 doi (DE-627)1896577164 (DE-599)KXP1896577164 DE-627 ger DE-627 rda eng Neupane, Suman verfasserin aut Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 Fan, Zhebin verfasserin (DE-588)1343088070 (DE-627)1903426510 aut Yanes Sanchez, Daniel verfasserin aut Neupane, Biwesh verfasserin aut Enthalten in Journal of international financial markets, institutions & money Amsterdam : Elsevier, 1997 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 Online-Ressource (DE-627)320601811 (DE-600)2020265-9 (DE-576)259485160 1873-0612 nnns volume:93 year:2024 month:06 elocationid:102000 pages:1-24 https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.intfin.2024.102000 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 93 2024 6 102000 1-24 26 01 0206 4557286542 x1z 26-07-24 2403 01 DE-LFER 4566448304 00 --%%-- --%%-- n --%%-- l01 15-08-24 2403 01 DE-LFER https://doi.org/10.1016/j.intfin.2024.102000 2403 01 DE-LFER https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf 26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
allfieldsSound |
10.1016/j.intfin.2024.102000 doi (DE-627)1896577164 (DE-599)KXP1896577164 DE-627 ger DE-627 rda eng Neupane, Suman verfasserin aut Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 Fan, Zhebin verfasserin (DE-588)1343088070 (DE-627)1903426510 aut Yanes Sanchez, Daniel verfasserin aut Neupane, Biwesh verfasserin aut Enthalten in Journal of international financial markets, institutions & money Amsterdam : Elsevier, 1997 93(2024) vom: Juni, Artikel-ID 102000, Seite 1-24 Online-Ressource (DE-627)320601811 (DE-600)2020265-9 (DE-576)259485160 1873-0612 nnns volume:93 year:2024 month:06 elocationid:102000 pages:1-24 https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.intfin.2024.102000 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 93 2024 6 102000 1-24 26 01 0206 4557286542 x1z 26-07-24 2403 01 DE-LFER 4566448304 00 --%%-- --%%-- n --%%-- l01 15-08-24 2403 01 DE-LFER https://doi.org/10.1016/j.intfin.2024.102000 2403 01 DE-LFER https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf 26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period. |
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26 00 DE-206 We examine the reaction of different investor categories to the COVID-19 pandemic in the Indian market throughout 2020. Using quarterly ownership data, we find significant differences across various investor categories during the crisis and post-crisis periods. We find that domestic institutional investors (DIIs) exhibit 'flight-to-quality' behavior, foreign institutional investors (FIIs) exhibit 'fire-sale' behavior, and retail investors (RIs) act as informed investors who provide liquidity during the crisis period. We observe conservative behavior from DIIs and FIIs throughout 2020, during which RIs initially increase their holdings in high-risk stocks but move to high-quality stocks in the final quarter of 2020. FIIs contribute the most to lower stock returns and higher volatility during the crisis period. Using daily FII trade-level data, we find that long-term FIIs start buying high-quality stocks before other categories in the post-crisis period, with short-term FIIs driving returns and volatility during the crisis period Diverse investor reactions to the COVID-19 pandemic insights from an emerging market Suman Neupane, Zhebin Fan, Daniel Yanes Sanchez, Biwesh Neupane COVID-19 (dpeaa)DE-206 Crises (dpeaa)DE-206 Emerging Market (dpeaa)DE-206 Foreign Institutional Investors (dpeaa)DE-206 Institutional Investors (dpeaa)DE-206 Investor Horizon (dpeaa)DE-206 Retail Investors (dpeaa)DE-206 |
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Diverse investor reactions to the COVID-19 pandemic insights from an emerging market |
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title_short |
Diverse investor reactions to the COVID-19 pandemic |
url |
https://www.sciencedirect.com/science/article/pii/S1042443124000660/pdfft?md5=5184d81b3d1d6f8f0eea00b0524ecd6f&pid=1-s2.0-S1042443124000660-main.pdf https://doi.org/10.1016/j.intfin.2024.102000 |
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Fan, Zhebin Yanes Sanchez, Daniel Neupane, Biwesh |
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Fan, Zhebin Yanes Sanchez, Daniel Neupane, Biwesh |
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doi_str |
10.1016/j.intfin.2024.102000 |
callnumber-a |
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up_date |
2024-09-26T07:53:07.646Z |
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