Did COVID-19 change spillover patterns between Fintech and other asset classes?
[Display omitted] This study examines the spillover effect between financial technology (Fintech) stocks and other financial assets (gold, Bitcoin, a global equity index, crude oil, and the US Dollar) during the COVID-19 crisis. Employing daily data from June 2019 to August 2020, our empirical analy...
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| Veröffentlicht in: | Research in international business and finance 2021-12, Vol.58, p.101441-101441, Article 101441 |
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| container_title | Research in international business and finance |
| container_volume | 58 |
| creator | Le, Lan-TN Yarovaya, Larisa Nasir, Muhammad Ali |
| description | [Display omitted]
This study examines the spillover effect between financial technology (Fintech) stocks and other financial assets (gold, Bitcoin, a global equity index, crude oil, and the US Dollar) during the COVID-19 crisis. Employing daily data from June 2019 to August 2020, our empirical analysis shows that the outbreak of COVID-19 exacerbated volatility transmission across asset classes, while subsequent decreases in new confirmed cases globally reduced the intensity of these spillovers. The evidence for the USD and gold supports their safe haven properties during catastrophic events, while innovative technology products as represented by a financial technology index (KFTX) and Bitcoin were highly susceptible to external shocks. These results show that when push comes to shove, the buck stops with the USD and gold and that the exorbitant privilege enjoyed by the USD prevailed during the COVID-19 pandemic. |
| doi_str_mv | 10.1016/j.ribaf.2021.101441 |
| format | Article |
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This study examines the spillover effect between financial technology (Fintech) stocks and other financial assets (gold, Bitcoin, a global equity index, crude oil, and the US Dollar) during the COVID-19 crisis. Employing daily data from June 2019 to August 2020, our empirical analysis shows that the outbreak of COVID-19 exacerbated volatility transmission across asset classes, while subsequent decreases in new confirmed cases globally reduced the intensity of these spillovers. The evidence for the USD and gold supports their safe haven properties during catastrophic events, while innovative technology products as represented by a financial technology index (KFTX) and Bitcoin were highly susceptible to external shocks. These results show that when push comes to shove, the buck stops with the USD and gold and that the exorbitant privilege enjoyed by the USD prevailed during the COVID-19 pandemic.</description><identifier>ISSN: 0275-5319</identifier><identifier>ISSN: 1878-3384</identifier><identifier>EISSN: 1878-3384</identifier><identifier>DOI: 10.1016/j.ribaf.2021.101441</identifier><identifier>PMID: 34518714</identifier><language>eng</language><publisher>United States: Elsevier B.V</publisher><subject>Bitcoin ; COVID-19 ; Fintech ; Forex ; Full length ; Global equity index ; KFTX ; Oil</subject><ispartof>Research in international business and finance, 2021-12, Vol.58, p.101441-101441, Article 101441</ispartof><rights>2021 Elsevier B.V.</rights><rights>2021 Elsevier B.V. All rights reserved.</rights><rights>2021 Elsevier B.V. All rights reserved. 2021 Elsevier B.V.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c492t-a99637a82ab5e09d8aeb8b0addef457abf61bb84e2343bd68ab33a287e50a6de3</citedby><cites>FETCH-LOGICAL-c492t-a99637a82ab5e09d8aeb8b0addef457abf61bb84e2343bd68ab33a287e50a6de3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.sciencedirect.com/science/article/pii/S0275531921000623$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>230,314,776,780,881,3536,27903,27904,65309</link.rule.ids><backlink>$$Uhttps://www.ncbi.nlm.nih.gov/pubmed/34518714$$D View this record in MEDLINE/PubMed$$Hfree_for_read</backlink></links><search><creatorcontrib>Le, Lan-TN</creatorcontrib><creatorcontrib>Yarovaya, Larisa</creatorcontrib><creatorcontrib>Nasir, Muhammad Ali</creatorcontrib><title>Did COVID-19 change spillover patterns between Fintech and other asset classes?</title><title>Research in international business and finance</title><addtitle>Res Int Bus Finance</addtitle><description>[Display omitted]
This study examines the spillover effect between financial technology (Fintech) stocks and other financial assets (gold, Bitcoin, a global equity index, crude oil, and the US Dollar) during the COVID-19 crisis. Employing daily data from June 2019 to August 2020, our empirical analysis shows that the outbreak of COVID-19 exacerbated volatility transmission across asset classes, while subsequent decreases in new confirmed cases globally reduced the intensity of these spillovers. The evidence for the USD and gold supports their safe haven properties during catastrophic events, while innovative technology products as represented by a financial technology index (KFTX) and Bitcoin were highly susceptible to external shocks. These results show that when push comes to shove, the buck stops with the USD and gold and that the exorbitant privilege enjoyed by the USD prevailed during the COVID-19 pandemic.</description><subject>Bitcoin</subject><subject>COVID-19</subject><subject>Fintech</subject><subject>Forex</subject><subject>Full length</subject><subject>Global equity index</subject><subject>KFTX</subject><subject>Oil</subject><issn>0275-5319</issn><issn>1878-3384</issn><issn>1878-3384</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><recordid>eNp9kU9vEzEQxS1UREPhEyAhH3vZ4H-76z3QqkopVKqUC3C1xvZs42jjTW0nFd-eDSlVuXAaaeY3b0bvEfKBszlnvPm0nqdgoZ8LJvihoxR_RWZct7qSUqsTMmOirata8u6UvM15zZjoGBdvyKlU9cRxNSPL6-DpYvnz9rriHXUriPdI8zYMw7jHRLdQCqaYqcXyiBjpTYgF3YpC9HQsqwmBnLFQNxxqvnxHXvcwZHz_VM_Ij5sv3xffqrvl19vF1V3lVCdKBV3XyBa0AFsj67wGtNoy8B57Vbdg-4ZbqxUKqaT1jQYrJQjdYs2g8SjPyMVRd7uzG_QOY0kwmG0KG0i_zAjB_DuJYWXux73RSrQdU5PA-ZNAGh92mIvZhOxwGCDiuMtG1K2oRTsZPaHyiLo05pywfz7DmTlEYdbmTxTmEIU5RjFtfXz54fPOX-8n4PMRwMmnfcBksgsYHfqQ0BXjx_DfA78ByWGcLg</recordid><startdate>20211201</startdate><enddate>20211201</enddate><creator>Le, Lan-TN</creator><creator>Yarovaya, Larisa</creator><creator>Nasir, Muhammad Ali</creator><general>Elsevier B.V</general><scope>NPM</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7X8</scope><scope>5PM</scope></search><sort><creationdate>20211201</creationdate><title>Did COVID-19 change spillover patterns between Fintech and other asset classes?</title><author>Le, Lan-TN ; Yarovaya, Larisa ; Nasir, Muhammad Ali</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c492t-a99637a82ab5e09d8aeb8b0addef457abf61bb84e2343bd68ab33a287e50a6de3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2021</creationdate><topic>Bitcoin</topic><topic>COVID-19</topic><topic>Fintech</topic><topic>Forex</topic><topic>Full length</topic><topic>Global equity index</topic><topic>KFTX</topic><topic>Oil</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Le, Lan-TN</creatorcontrib><creatorcontrib>Yarovaya, Larisa</creatorcontrib><creatorcontrib>Nasir, Muhammad Ali</creatorcontrib><collection>PubMed</collection><collection>CrossRef</collection><collection>MEDLINE - Academic</collection><collection>PubMed Central (Full Participant titles)</collection><jtitle>Research in international business and finance</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Le, Lan-TN</au><au>Yarovaya, Larisa</au><au>Nasir, Muhammad Ali</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Did COVID-19 change spillover patterns between Fintech and other asset classes?</atitle><jtitle>Research in international business and finance</jtitle><addtitle>Res Int Bus Finance</addtitle><date>2021-12-01</date><risdate>2021</risdate><volume>58</volume><spage>101441</spage><epage>101441</epage><pages>101441-101441</pages><artnum>101441</artnum><issn>0275-5319</issn><issn>1878-3384</issn><eissn>1878-3384</eissn><abstract>[Display omitted]
This study examines the spillover effect between financial technology (Fintech) stocks and other financial assets (gold, Bitcoin, a global equity index, crude oil, and the US Dollar) during the COVID-19 crisis. Employing daily data from June 2019 to August 2020, our empirical analysis shows that the outbreak of COVID-19 exacerbated volatility transmission across asset classes, while subsequent decreases in new confirmed cases globally reduced the intensity of these spillovers. The evidence for the USD and gold supports their safe haven properties during catastrophic events, while innovative technology products as represented by a financial technology index (KFTX) and Bitcoin were highly susceptible to external shocks. These results show that when push comes to shove, the buck stops with the USD and gold and that the exorbitant privilege enjoyed by the USD prevailed during the COVID-19 pandemic.</abstract><cop>United States</cop><pub>Elsevier B.V</pub><pmid>34518714</pmid><doi>10.1016/j.ribaf.2021.101441</doi><tpages>1</tpages><oa>free_for_read</oa></addata></record> |
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| ispartof | Research in international business and finance, 2021-12, Vol.58, p.101441-101441, Article 101441 |
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| language | eng |
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| source | Elsevier ScienceDirect Journals |
| subjects | Bitcoin COVID-19 Fintech Forex Full length Global equity index KFTX Oil |
| title | Did COVID-19 change spillover patterns between Fintech and other asset classes? |
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