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The transformation of coronavirus disease (COVID-19) from a regional health crisis in a Chinese city to a global pandemic has caused severe damage not only to the natural and economic lives of human beings but also to the financial markets. The rapidly pervading and daunting consequences of COVID-19 spread have plummeted the stock markets to their lowest levels in many decades especially in South Asia. This concern motivates us to investigate the stock markets’ response to the COVID-19 pandemic in four South Asian countries: Bangladesh, India, Pakistan and Sri Lanka. This study aims to investigate the causal impact of the number of confirmed COVID-19 cases on stock market returns using panel data of the countries stated above.

This study collects and analyzes the daily data on COVID-19 spread and stock market return over the period May 28, 2020 to October 01, 2020. Using Dumitrescu and Hurlin panel Granger non-causality test, the empirical results demonstrate that the COVID-19 spread measured through its daily confirmed cases in a country significantly induces stock market return. This paper cross-validates the results using the pairwise Granger causality test.

The empirical results suggest unidirectional causality from COVID-19 to stock market returns, indicating that the spread of COVID-19 has a dominant short-term influence on the stock movements. To the best of the knowledge, this study provides the first empirical insights into the impact of COVID-19 on the stock markets of selected South Asian countries taking the cross-sectional dependence into account. The results are also in line with the findings of other existing literature on COVID-19. Moreover, the results are robust across the two tests used in this study.

The findings are equally insightful to the fund managers and investors in South Asian countries. Taking into account the possible impact of COVID-19 on stock markets’ returns, investors can design their optimal portfolios more effectively. This study has another important implication in the sense that the impact of COVID-19 on the stock markets of South Asian countries may have spillover effects on other developing or even developed countries.

The purpose of this paper is to seek the determinants of service quality and evaluate the impact of service quality and consumers’ characteristics on channel selection in the context of beverage industry in Bangladesh.

Data were collected using convenience sampling method. Initially exploratory factor analysis was performed to extract the key dimensions of service quality and then structural equation modeling was employed to verify the causal relationships between the dimensions of service quality and service quality itself. χ2 test was used to determine whether any association exists between service quality or demographic variables and choice of channel types. Cramer’s V was performed to measure the strength of association. One-way ANOVA was carried out to identify significant impact of demographic variables on perception of service quality.

The research findings indicated that personal interaction, appearance, reliability, policy, and problem solving are the key determinants of service quality in terms of beverage industry in Bangladesh. It is observed that customers preferring factors like personal interaction and problem solving intend to purchase beverage items from super shop. Customers who are deemed socioeconomically high taking profession and monthly income into account prefer shopping at super shop. Customers who are female or married with no kid or service holders showed better satisfaction with service quality.

Due to money and time constraints the study could not cover up the whole country. Conclusions and predictions to be applied to consumers in general may not be appropriate entirely since specific age group was deemed, given that the subject was beverage products.

The model proposed in this study will help managers and suppliers understand how consumers assess the quality of services. In order to strengthen brand and create brand loyalty, marketing planners, managers, and suppliers must be aware of the dimensions of service quality, and consumers’ characteristics. Selecting an optimal sales channel is imperative for suppliers in order to make their products reach to target consumers.

Service quality plays crucial role in ameliorating customer satisfaction and creating competitive advantage whereas sales channels have impact on sustaining the long-term profitability of the company. This paper has contributed significantly to these issues and sought consumers’ characteristics and preference as well.