The Impact of COVID-19 on the Returns of South African Exchange Traded Funds

The recent COVID-19 outbreak has created economic turmoil around the world. Given the soaring popularity of exchange traded funds in recent years, this study investigates the impact of COVID-19 on the returns of South African exchange traded funds. Using a sample period of March 5, 2020 to June 4, 2...

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Bibliographic Details
Published inActa Universitatis Danubius. Œconomica Vol. 19; no. 2; pp. 258 - 268
Main Author Kunjal, Damien
Format Journal Article
LanguageEnglish
French
Published Galati Danubius University Press 2023
Editura Universitară Danubius
Universitatea Danubius Galati
Subjects
COVID-19
Health and medicine and law
International relations/trade
National Economy
Popularity
Volatility
exchange traded fund
Coronavirus
COVID19
pandemic
financial market
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Summary:The recent COVID-19 outbreak has created economic turmoil around the world. Given the soaring popularity of exchange traded funds in recent years, this study investigates the impact of COVID-19 on the returns of South African exchange traded funds. Using a sample period of March 5, 2020 to June 4, 2020, this study reports that, after controlling for alternative explanations of returns and conditional market volatility, the returns of exchange traded funds exhibit a significant, negative relationship with the growth in the total number of COVID-19 confirmed cases. On the contrary, the returns of exchange traded funds exhibit an insignificant, positive association with the growth in the total number of COVID-19 deaths.
ISSN:2065-0175
2067-340X