ABSTRACT
PurposeThe purpose of this paper is to capture the investors' mood related to the COVID-19 pandemic and analyze its impact on the stock market returns.Design/methodology/approachTo capture the investor mood related to the COVID-19 pandemic, the authors construct a unique COVID-19 fear index based on the Search Volume Index (SVI) from Google Trends (http://www.Google.com/trends/) of the search terms related to COVID-19 words and phrases as revealed by Google and Internet dictionaries. The COVID-19 fear index was used to investigate its impact on the stock market returns.FindingsThe study finds a strong negative association between COVID-19 fear and stock returns. Unlike other studies, the relationship is persistent for a significant period. This relationship is not found to reverse in the following days. The results also highlight that COVID-19 fear strongly impacts the stock market. The sentiment persists for a significant period and is not reversed soon, unlike the regular times in earlier studies.Originality/valueThe study is among the very few studies that constructed COVID-19 fear index using several Google search terms and captured its impact on the stock market returns.
ABSTRACT
The 2020 COVID-19 pandemic has not only resulted in immense loss of human life, but it also rampaged across the global economy and socio-cultural structure. Worldwide, countries imposed stringent mass quarantine and lockdowns to curb the transmission of the pathogen. While the efficacy of such lockdown is debatable, several reports suggest that the reduced human activities provided an inadvertent benefit by briefly improving air and water quality. India observed a 68-days long, nation-wide, stringent lockdown between 24 March and 31 May 2020. Here, we delineate the impact of the lockdown on groundwater and river sourced drinking water sustainability in the arsenic polluted Ganges river basin of India, which is regarded as one of the largest and most polluted river basins in the world. Using groundwater arsenic measurements from drinking water wells and water quality data from river monitoring stations, we have studied ~700 km stretches of the middle and lower reaches of the As (arsenic)-polluted parts of the river for pre-lockdown (January-March 2020), syn-lockdown (April-May), and post-lockdown periods (June-July). We provide the extent of As pollution-free groundwater vis-à-vis river water and examine alleviation from lockdown as an opportunity for sustainable drinking water sources. The overall decrease of biochemical oxygen demand (BOD) and chemical oxygen demand (COD) concentrations and increase of pH suggests a general improvement in Ganges water quality during the lockdown in contrast to pre-and-post lockdown periods, potentially caused by reduced effluent. We also demonstrate that land use (agricultural/industrial) and land cover (urban-periurban/rural) in the vicinity of the river reaches seems to have a strong influence on river pollutants. The observations provide a cautious optimistic scenario for potentially developing sustainable drinking water sources in the arsenic-affected Ganges river basin in the future by using these observations as the basis of proper scientifically prudent, spatially adaptive strategies, and technological interventions.