Information demand during the COVID-19 pandemic

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dc.contributor.authorDong, Hang
dc.contributor.authorGil-Bazo, Javier
dc.contributor.authorRatiu, Raluca Valeria
dc.date.accessioned2025-03-18T07:42:54Z
dc.date.available2025-03-18T07:42:54Z
dc.date.issued2021
dc.description.abstractWe investigate the demand for financial information during the initial months of the COVID-19 pandemic. Using Google search data for individual stocks, we show that the Abnormal Google Search Volume Index declined significantly between March and June of 2020. We find a similar effect around earnings announcements dates, which confirms that the demand for financial information by retail investors declined during the pandemic. Our results are indicative of potentially important consequences for information diffusion, price discovery and market efficiency under extreme uncertainty. We discuss possible explanations for these results.
dc.description.sponsorshipJavier Gil-Bazo acknowledges financial support from the Spanish Government, Ministry of Science and Innovation's grant PID2020-118541GB-I00, and Spanish Agencia Estatal de Investigación (AEI), through the Severo Ochoa Programme for Centres of Excellence in R&D (Barcelona School of Economics CEX2019-000915-S).
dc.format.mimetypeapplication/pdf
dc.identifier.citationDong H, Gil-Bazo J, Ratiu RV. Information demand during the COVID-19 pandemic. J Account Public Policy. 2021 Oct-Nov;40(6):106917. DOI: 10.1016/j.jaccpubpol.2021.106917
dc.identifier.doihttp://dx.doi.org/10.1016/j.jaccpubpol.2021.106917
dc.identifier.issn0278-4254
dc.identifier.urihttp://hdl.handle.net/10230/69955
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofJournal of Accounting and Public Policy. 2021 Oct-Nov;40(6):106917
dc.relation.projectIDinfo:eu-repo/grantAgreement/ES/2PE/PID2020-118541GB-I00
dc.rights© 2021 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subject.keywordInformation demand
dc.subject.keywordGoogle search
dc.subject.keywordCOVID-19
dc.titleInformation demand during the COVID-19 pandemic
dc.typeinfo:eu-repo/semantics/article
dc.type.versioninfo:eu-repo/semantics/publishedVersion

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