ABSTRACT
The purpose of this study is to empirically analyze the contagion effects of the COVID-19 pandemic on stock returns of the Pakistan Stock Exchange (PSX). In this context, the causal changes of three major macroeconomic indicators i.e. gold prices, prices of real estate, and the US exchange rate on the stock market returns were assessed. The daily indices of stock returns, house prices index, plot price index, daily prices of gold, and the daily US dollar exchange rate are analyzed. The data spanning six months, including three months of pre-COVID-19 and three months of post-COVID-19, was analyzed using Eviews software. The event study methodology is used, and the GARCH model is applied to test the relations. The findings highlight the impact of the COVID-19 pandemic on stock returns and reveal a significant change in the relationship between prices of gold and the stock market returns. Similarly, the change in the relations between stock market returns and real estate prices got significant support. However, the change in the relations between the US dollar exchange rate and stock market returns was found insignificant. The study contributes by providing evidence that explains the changes in dynamics of the capital market during the pandemic. The study also helps the investors to understand how macroeconomic variables behave during periods of stress. © 2021. All Rights Reserved.
ABSTRACT
Purpose: This study is undertaken to examine the role of information and communication technology (ICT), e-service quality and e-information quality towards brand image of universities by concentrating on students’ e-learning, e-word of mouth and satisfaction. Design/methodology/approach: The target population was the students of public and private universities in Pakistan. Data collected using an e-questionnaire by 408 students were subjected to PLS-SEM for analysis. Findings: Findings revealed that ICT, e-service quality and e-information quality are positively contributed toward students' e-learning which ultimately leads to create positive e-word of mouth and students' satisfaction. Meanwhile, results also identified that e-word of mouth and students' satisfaction lead to generate a positive brand image of universities. Practical implications: This study has unique implications for universities to develop an e-learning platform to facilitate their students in this situation of COVID-19. It provides guidelines for educational institutions to implement the learning management system effectively with a view to facilitate the students with education. Originality/value: This study has novel contribution in literature in the domain of digital learning. It is unique in a way to integrate the usage of technology with students' e-learning and satisfaction that ultimately create brand image of universities. © 2020, Emerald Publishing Limited.