Editorial introduction

ABSTRACT

In the first paper, entitled World capital markets facing the first wave of COVID-19 Traditional event study versus sensitivity to new cases, Pedro Luis Angosto-Fernández and Victoria Ferrández-Serrano investigate how stock markets around the world react to news concerning new local outbreaks of COVID-19. According to the study, the monetary policy only significantly responds to inflation in the low-interest rate regime and the highinterest rate regime and that both inflation and credit have significant positive impacts on interest rate setting. What is an especially worthwhile addition to the literature is that they look at three moments that such transitions could have an effect firstly, when this transition is approved by shareholders, secondly, when the transition is approved by a regulatory agency and thirdly, on the initial day of trading on the higher tier of the stock market.