Information demand during the COVID-19 pandemic

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• dc.contributor.author Dong, Hang
• dc.contributor.author Gil-Bazo, Javier
• dc.contributor.author Ratiu, Raluca Valeria
• dc.date.accessioned 2025-03-18T07:42:54Z
• dc.date.available 2025-03-18T07:42:54Z
• dc.date.issued 2021
• dc.description.abstract We 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.sponsorship Javier 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.mimetype application/pdf
• dc.identifier.citation Dong 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.doi http://dx.doi.org/10.1016/j.jaccpubpol.2021.106917
• dc.identifier.issn 0278-4254
• dc.identifier.uri http://hdl.handle.net/10230/69955
• dc.language.iso eng
• dc.publisher Elsevier
• dc.relation.ispartof J Account Public Policy. 2021 Oct-Nov;40(6):106917
• dc.relation.projectID info: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.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by/4.0/
• dc.subject.keyword Information demand
• dc.subject.keyword Google search
• dc.subject.keyword COVID-19
• dc.title Information demand during the COVID-19 pandemic
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/publishedVersion