Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/219453 
Erscheinungsjahr: 
2020
Verlag: 
ZBW – Leibniz Information Centre for Economics, Kiel, Hamburg
Zusammenfassung: 
We use party-identifying language – like “Liberal Media” and “MAGA”– to identify Republican users on the investor social platform StockTwits. Using a difference-in-difference design, we find that the beliefs of partisan Republicans about equities remain relatively unfazed during the COVID-19 pandemic, while other users become considerably more pessimistic. In cross-sectional tests, we find Republicans become relatively more optimistic about stocks that suffered the most from COVID-19, but more pessimistic about Chinese stocks. Finally, stocks with the greatest partisan disagreement on StockTwits have significantly more trading in the broader market, which explains 20% of the increase in stock turnover during the pandemic.
Schlagwörter: 
COVID-19
Partisan
Stock market
JEL: 
G12
D91
P16
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
867.26 kB





Publikationen in EconStor sind urheberrechtlich geschützt.