Document Type

Article

Source of Publication

Complexity

Publication Date

9-27-2022

Abstract

The role of media coverage as a proxy for investor sentiments has led to the assessments of the impact of COVID-19 media coverage on financial markets. To determine how both local and global media coverage affect financial markets differently, we investigate this issue from the perspective of top emerging markets, BRICS (i.e., Brazil, Russia, India, China, and South Africa). With datasets covering January 2020 to March 2022, we employ the wavelet coherence technique on two major subsamples, viz. initial outbreak year sample and the “new normal” era sample. Our findings demonstrate the leading role of BRICS equities in the initial outbreak period, particularly across medium and low frequencies. In the “new normal” era, we find a significant effect of world media coverage on BRICS equities. We discuss the implications of our findings, which are of importance to investors, policymakers, and practitioners.

ISSN

1076-2787

Publisher

Hindawi Limited

Volume

2022

First Page

1

Last Page

14

Disciplines

Business

Creative Commons License

Creative Commons Attribution 4.0 International License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Indexed in Scopus

no

Open Access

yes

Open Access Type

Gold: This publication is openly available in an open access journal/series

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