ArticleResearch in international business and finance2021
Banking sector reactions to COVID-19: The role of bank-specific factors and government policy responses.
Article in Research in international business and finance, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 3 papers.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
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Who cites it
3 citing papers in PubMed.
- COVID-19 pandemic and debt financing by firms: Unravelling the channels.Economic modelling · 2022Article
- How to calm down the markets? The effects of COVID-19 economic policy responses on financial market uncertainty.Research in international business and finance · 2022Article
- Coronavirus pandemic impact on bank performance.Frontiers in psychology · 2022Article
Corrections and comments
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Authors and funding
2 authors.
Funding
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Abstract
This paper examines the impact of bank-specific factors and variations in the context of stringency of government policy responses on bank stock returns because of the COVID-19 pandemic. A sample of 1,927 publicly listed banks from 110 countries is used for the period of the first major wave of COVID-19, that is, January to May 2020. Our findings indicate that stock returns of banks with higher capitalization and deposits, more diversification, lower non-performing loans, and larger size are more resilient to the pandemic. While banks' environment and governance scores do not have a significant impact, higher social and corporate social responsibility strategy scores intensify the negative stock price reaction to COVID-19. We further observe that the pandemic-induced reduction in bank stock prices is mitigated as the strictness of government policy responses increases, mainly through economic responses such as income support, debt and contract relief, and fiscal measures from governments.
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