{"title":"Has Ebola Infected the Market: A Contagious Reaction to a (Media) Health Care Crisis?","authors":"Mary Funck, Jose A. Gutierrez","doi":"10.2139/ssrn.2786001","DOIUrl":null,"url":null,"abstract":"We examine the impact of Ebola headline news days on media-highlightedstocks. An Ebola news day (negative or positive in nature) is associated with increasedtrading, higher share volume, higher dollar volume, and increased share turnover.OLS regressions on industry-specific portfolios reveal that airline, restaurant, andcruise ship returns reverse themselves one day after the Ebola news event, a resultthat is consistent with behavioral overreaction literature. Empirical findings could beused to prepare market participants for analogous epidemics.","PeriodicalId":120375,"journal":{"name":"AARN: Visual Anthropology","volume":"44 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1970-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"15","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"AARN: Visual Anthropology","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2786001","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 15
Abstract
We examine the impact of Ebola headline news days on media-highlightedstocks. An Ebola news day (negative or positive in nature) is associated with increasedtrading, higher share volume, higher dollar volume, and increased share turnover.OLS regressions on industry-specific portfolios reveal that airline, restaurant, andcruise ship returns reverse themselves one day after the Ebola news event, a resultthat is consistent with behavioral overreaction literature. Empirical findings could beused to prepare market participants for analogous epidemics.
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