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undergraduate thesis
UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA
Završni rad
2022. urn:nbn:hr:145:384324
Kuzmić, Matija
Josip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
Chair of Finance and Accounting

Cite this document

Kuzmić, M. (2022). UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad (Undergraduate thesis). Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek. Retrieved from https://urn.nsk.hr/urn:nbn:hr:145:384324

Kuzmić, Matija. "UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2022. https://urn.nsk.hr/urn:nbn:hr:145:384324

Kuzmić, Matija. "UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2022. https://urn.nsk.hr/urn:nbn:hr:145:384324

Kuzmić, M. (2022). 'UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad', Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, accessed 03 May 2024, https://urn.nsk.hr/urn:nbn:hr:145:384324

Kuzmić M. UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad [Undergraduate thesis]. Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek; 2022 [cited 2024 May 03] Available at: https://urn.nsk.hr/urn:nbn:hr:145:384324

M. Kuzmić, "UTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad", Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, Osijek, 2022. Available at: https://urn.nsk.hr/urn:nbn:hr:145:384324

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TitleUTJECAJ VIJESTI O PANDEMIJI COVID-19 NA TRŽIŠTE DIONICA : Završni rad
Title (english)IMPACT OF COVID-19 NEWS ON THE STOCK MARKET : Final paper
AuthorMatija Kuzmić
MentorDomagoj Sajter (mentor)
MentorJosipa Mijoč (komentor)
GranterJosip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
(Chair of Finance and Accounting)
Osijek
Defense date and country2022-09-07, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Pandemija covid-a 19 imala je negativni utjecaj na svijet, kako u pogledu neizvjesnosti u javnom zdravstvu i zdravstvenim sustavima, tako i nestabilnosti u financijskom sektoru. Burze su značajno zahvaćene iznimno visokom razinom rizika uzrokovanom pandemijom, a što je, u konačnici, ulagačima uzrokovalo značajne gubitke. Pandemija covid-a 19 popraćena je značajnom količinom lažnih vijesti (eng. fake news), koje kruže u svim oblicima medija i time uzrokuju nesigurnost u donošenju odluka o ulaganju. Smatra se da medijski kanali na društvenim mrežama prenose informacije koje imaju značajan utjecaj na tržišnu dinamiku u vremenima ekonomske neizvjesnosti. Ovo istraživanje nadopunjuje dostupnu literaturu vezanu za utjecaj covid-19 medijskih indeksa na financijsku imovinu analizirajući pojedinačne burzovne indekse, kao i tržište kriptovaluta. Indeksi lažnih vijesti i panike (RavenPack Fake news index i Panic index) koristili su se u analizi utjecaja navedenih indeksa na dnevne prinose S&P 500 i indeks kriptovaluta Royalton CRIX pomoću kvantilne i OLS regresije. Rezultati prikazuju da postoje značajne ovisnosti u uvjetnoj distribuciji, no da je utjecaj na tržišne indekse nizak. Lažne vijesti utječu na dnevne prinose Royalton CRIX-a u rastućem tržištu, no snaga utjecaja je gotovo zanemariva. Također, panika u medijima vezana uz S&P 500 dnevne prinose upućuje na značaj u izrazito rastućem i izrazito padajućem tržištu, no također uz prisutan zanemariv utjecaj na prinose.
Abstract (english)
The COVID-19 pandemic has affected the world negatively from uncertainty in healthcare and healthcare systems to turbulence in the financial sector. Stock markets were heavily affected due to the extremely high level of risk caused by the pandemic, which further caused significant losses for investors. The COVID-19 pandemic is accompanied by a lot of fake news that circulates in all forms of media and thus creates uncertainty in the decisions of individuals. Media channels of social networks are considered to deliver information that has a significant impact on market dynamics in times of economic uncertainty. This research complements the previous literature related to the COVID-19 media indices impact on financial assets by analyzing individual market indices of the stock market as well as the cryptocurrency market. RavenPack Fake news index and Panic index were used to analyze their impact on S&P 500 and Royalton CRIX daily returns by implementing a quantile regression approach. The results show that significant dependencies exist through the conditional distribution, but represent a low impact on market indices. Fake news impacts the daily return of Royalton CRIX in a bullish trending market, but the impact is low to non-existent. Also, panic in the media considering S&P 500 daily returns suggest significance in extremely bullish and bearish markets, also measuring a low impact on the returns.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:145:384324
Study programmeTitle: Financial Management
Study programme type: university
Study level: undergraduate
Academic / professional title: sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije (sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2023-05-19 09:23:31