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According to the Government Response tracker (oxCGRT) index, the overall government response, stringency, economic support, containment and health policies to COVID-19 from January 2020 to December 2022. The main objective of this paper is to explore how stock market performance is affected by these polices, respectively.

The authors employ EGARCH and autoregressive distributional lag (ARDL) models to test the impact of epidemic prevention policy implementation on stock market returns, volatility and liquidity and make cross-country comparisons for six important world economies.

Firstly, the implementation of various preventive policies hurts stock market returns and increases volatility, but there are a few indicators that have no effect or have an easing effect in some countries. Secondly, health policies exacerbate market volatility and have a stronger effect than other policy indicators. Thirdly, In China and the USA, anti-epidemic policies have been shown to worsen liquidity, while in Japan they have been shown to improve liquidity.

First, enrich the growing body of COVID-19 research by comprehensively examining whether and how government prevention policies affect stock market returns, volatility and liquidity. Second, explore the impact of different types of intervention policies on stock market performance, separately.

This study uncovers how government interventions, in terms of stringency and support, shape coronavirus disease 2019's (COVID-19) detrimental impact on organizations' performance. Specifically, this paper studies whether stringency and support play complementary or substitutive roles in lowering COVID-19's impact on organizations' performance.

The authors gathered primary data from USA manufacturing companies and combined this with secondary data from the Oxford COVID-19 Government Response Tracker (OxCGRT) to test the proposed model with structural equation modeling (SEM).

The results show that the stringency approach increases the detrimental impact on both operational and financial performance, while economic support (to households) and fiscal spending (to organizations) work differently on lowering the impacts of COVID-19. Further, these combinative effects only influence the firm's operational performance, albeit in opposite directions.

This study advances the knowledge of government interventions by examining stringency and support's direct and interaction effects on firm performance as a result of the COVID-19 pandemic. The findings contribute to the literature by uncovering the unique roles of both supportive policies, thus differentiating economic support (to individuals/households) from fiscal spending (to organizations) and providing important academic, managerial and policy insights into how government should best initiate and blend stringency and support policies during the COVID-19 pandemic.

This study has conducted exploratory research to understand who should comprise the members of a resilient supply chain for promoting an entrepreneurial ecosystem of a startup project and to determine the mechanisms for the balanced coexistence of all stakeholders. This is necessary to ensure mutual benefits for all stakeholders, each of whom has multidimensional interests. Additionally, this supply chain must be able to withstand any potential disruption risks.

This research has employed a mixed-design approach. In this context, the study conducted an extensive qualitative and quantitative investigation, including 30 interviews and a survey involving 180 potential stakeholders in this supply network, respectively in the capital city of Bangladesh, Dhaka. The analysis of the interviews utilized principles of matrix thinking, while structural equation modeling (SEM) through LISREL was employed to understand cause-and-effect relationships.

Network, platform and governance—these three independent constructs have the potential to contribute to the dependent construct, a resilient supply chain, aimed at promoting an entrepreneurial ecosystem for startup projects. It has been revealed that the management of such projects depends on the rules and regulations within the ecosystem. An excellent governance mechanism is essential for this purpose. To facilitate coexistence, the establishment of a platform is crucial, where cooperation among all members is mandatory.

For practitioners, three distinctive but closely interdependent issues are explored and resolved in this philanthropic study. It has unfolded the elements of any startup project with essential settings.

The identification of the structural dynamics of potential stakeholders within the entrepreneurial ecosystem of startups is largely absent in existing literature. Therefore, there is a need to comprehensively investigate the entire network, including their roles, responsibilities and associations. This study makes a significant and novel contribution to the existing literature. Academics and practitioners alike have ample opportunities to learn from this new aspect of relationships across three distinct areas: the entrepreneurial ecosystem, startup projects and the development of a resilient supply chain.

Using textual analysis the authors study the relationship between social media sentiments and stock markets during the COVID-19 pandemic.

The study analysis is based on a sample of 1,616,007 tweets over the period January to June 2021 for seven countries. The authors process the tweets via the VADER analyzer thereby producing both positive and negative sentiment measures.

Particularly, the authors prove that higher positivism is associated with a short-term increase in stock prices. On the other side, negativism relates inversely to stock prices with long-term impact, in the case of English-spoken countries. Notably, the study results remain robust to the inclusion of various control variables, including virtual fear and Google vaccine indexes. Finally, the authors prove that positivism is associated with higher returns and lower volatility in the short-run, while negativism is linked with lower returns in the short run.

The study analysis also has significant policy implications for researchers, investors and policymakers. First, researchers can employ our measures to quantify market sentiments and expand their research arsenal to incorporate social media trends, thus providing better explanatory power. Second, during times of severe uncertainty such as in a pandemic period, investors could beneficially take into account our textual measures and empirical results when using asset pricing models or constructing their portfolios. Third, the finding that the stock market is heavily governed by sentimental behaviors, especially during crisis periods, implies that policymakers including central banks, governments and capital market commissions must consider these sentiments before exerting their policies. In this regard, governments can effectively develop policy tools and approaches to manage recovery from the pandemic, which translates to greater long-term economic resilience. Moreover, central banks should accordingly adjust their monetary policy measures in order to stabilize financial markets, and by extension, to stop the pandemic from turning into a renewed financial crisis. For example, asset purchase program is considered the main instrument of this kind of intervention.

The authors confirm that this work is original and has not been published elsewhere, nor is it currently under consideration for publication elsewhere. The paper should be of interest to readers in the areas of finance.

This paper aims to show the pragmatic studies that examine whether novel COVID-19 affects the national and international stock markets and reinforces the existing literature by highlighting the factors that are resultant from COVID 19.

The systematic literature review and bibliometric approach have been used in the study covering 585 selected articles published in journals of high repute from January 2020 to January 2022. The process of bibliometric analysis has been divided into three stages, namely, assembling, arranging and assessing. From the Scopus database, one of the most reliable and authentic database total of 585 records were collected, out of which 12 were specifically focused on communities, and information gathered in the comma-separated value documents design was compared and interpreted based on year, document types, subject area, country and research fields with the help of graphs and pie charts. The study has analyzed fact-based and reliable studies to draw inferences from existing literature regarding the pandemic impacting the financial markets. In the extant study, an attempt has been made to explore the factors that are resultant from the COVID-19 pandemic and affects the stock market performance, which can be further classified into a few common factors by using factor analysis.

It originated from the majority of the studies that the stock market retorted destructively to the upsurge in the figure of COVID-19 cases and fatalities. It also emphasized that the market has reacted differently in comparison to earlier catastrophes such as the great depression of 2008 and the Spanish flu. Various factors such as fear of losing capital, standstill economy, lower valuation, increased mortality rate, halt in business operations, retrenchment, trade war, liquidity issues, panic buying and selling, digitalization, negative media coverage, government interference, financial behavior of investors, hoarding of COVID supplies, promotion of start-up in health-care and education sector, news bulletins, prevention campaigns, use of medical devices and COVID-19 vaccination, etc. have been conferred from the studies that have an immediate consequence on the actions of investors in the stock market. It was further highlighted in the study that the Indian stock market has been less explored in respect of implications of COVID-19 contagion as the majority of studies were based on either international stock exchanges or combinations of varied nation’s stock markets. It was witnessed in the interpretation section that the number of studies is increasing at a fast pace as new variants of COVID-19 are emerging over time. Significant contribution has been done in enhancing the literature on COVID-19 and the stock market by China and the USA. The maximum contribution in this domain has been done in the form of articles in the present literature. Few studies were focusing on communities, so the present study will try to fill this research gap to some extent.

This conceptual paper is demarcated by unsatisfactory analyses of writings from multi-discipline to get a comprehensive scope of notional understanding. Furthermore, there is a perchance that some other imperative phenomena or variables that prejudiced trading bustle have not been captured by present reviews of research papers. The influences of other macroeconomic variables should be explored to understand the concrete results of this pandemic.

Most of the studies were based on foreign stock exchanges, so there is an opportunity to explore the Indian stock market concerning the implications of the coronavirus pandemic. In the literature, it was examined that short-term studies have been undertaken, which cannot determine the long-term implications of COVID-19. Over time, besides COVID-19, various other factors have started impacting the stock market, so it has become difficult to examine the influence of COVID-19 on the stock market in isolation.

The study will be helpful for future learnings in the arena of the stock market as it provides vast exposure to the present literature related to the impact of COVID-19 on economic markets. On the other hand, investors will also become aware of factors that are resultant of COVID-19 and will take the right decisions to save their investments in light of pandemic implications. The extensive review of studies will also help enterprising communities to take judicial steps to remain active in the period of economic slowdown.

The paper provides significant implications to the investors in the stock market, and it will provide useful insight to improve their returns on their portfolios. The learning from the study will help investors to take fruitful decisions considering the uncertainty during the pandemic period. The inferences drawn from rich existing literature will be guiding enterprises to take timely actions to avoid the situation of loss in the market and adapt new models to ensure continuity of business operations. Different markets had reacted differently, so investors need to be cautious before taking trading decisions.

This study examines the influence of various COVID-19 catastrophes variables on the stock market liquidity, considering the market depth and market tightness in the technology industry of the four biggest ASEAN capital markets.

The study utilised the panel data regression analysis obtained from 177 listed technology companies across the four ASEAN countries from March 2, 2020 to June 30, 2021 using the random effect and weighted least squares. The study also supported the result with robustness test, implementing the quantile regression to further present companies' segmentation within the variables.

The regression results indicate that daily growth COVID-19 confirmed cases and stringency that adversely impacted the stock market liquidity. Confirmed deaths were also found to have a detrimental effect on the stock market liquidity. On the other hand, recoveries and vaccination of COVID-19 enhance the stock market liquidity to escalate.

The study affirms that stock market liquidity is bound to be driven by the COVID-19 variables, but only to be limited to the technology industry observed in four major ASEAN capital markets. Awareness by investors and government could be shifted towards the rise of confirmed cases, recoveries, vaccination and stringency as it improves the liquidity of capital market in aggregate. However, rise of confirmed deaths negatively affect the liquidity. All in all, government and stock market regulator should promote transparency to boost investors' confidence in trading.

This study initiates the investigation in the four biggest ASEAN capital markets, particularly in the technology industry, regarding the COVID-19 catastrophes and stock market liquidity in terms of both market depth and market tightness. Further, this study enriches the impact of COVID-19 by taking the recovery cases and vaccination of COVID-19 as additional consideration.

This study aims to investigate the impact of the rise in coronavirus disease 2019 (COVID-19) cases on stock prices, exchange rates and sovereign bond yields in both Brazil and India.

The authors employ the wavelet transform coherence (WTC) and continuous wavelet transform (CWT) techniques on daily data from March 17, 2020 to May 8, 2021.

The findings show that COVID-19 has no impact on exchange rates but slightly increases sovereign bond yields from 2021 onwards. In contrast, the effect of COVID-19 on stock prices is quite high in both countries. There is a considerable consistency between COVID-19 cases and stock prices across different time–frequency dimensions. The rise in COVID-19 cases has an increasing effect on stock prices in Brazil and India, especially in the high-frequency ranges.

As far as the authors know, no prior study has simultaneously analyzed the effects of the COVID-19 pandemic on exchange rates, stock prices and sovereign bonds in Brazil and India.

The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return.

The author uses daily data from March 2, 2020, to July 23, 2021.

The author finds that policies interventions have a negative impact on Tunisia's stock market, particularly stock market returns due to stringency, confinement and health measures. Also, Government announcements regarding economic has a negative impact on Tunisia's stock market but this impact is insignificant. By conducting an additional analysis, the author shows that the government interventions policies amplify the negative effect of COVID-19 on stock returns.

These results will be useful for policy authorities seeking to consider the advantages and drawbacks of government measures. Finally, a legislative proposal about the audit of public debt should be included in the Constitution to spur Tunisia's economic and social recovery.

This study contributes to the related literature in two ways: First, it is the first study to examine the impact of government actions on stock market performance. Second, it bridges a gap in the literature by investigating the case of Tunisia, because most studies focus on developed and emerging economies.

As the world's largest emerging market, the evidence of momentum effect in China is also mixed. Meanwhile, prior studies mainly examined individual stock momentum in China, with little concern for industry momentum and its relationship with trading volume. The motivation of this study is to investigate industry momentum in China and examine whether trading volume can enhance its profitability.

Firstly, the authors test the existence of industry momentum in China; secondly, the authors test the correlation between trading volume and momentum returns using the double ranking method; finally, the authors test whether trading volume enhances the momentum returns using Fama–French five-factor model.

The authors find that there is a significant industry momentum effect in China, and the momentum returns jointly come from winner and loser portfolios. The intervals between the formation and holding periods have an impact on the performance of momentum portfolios. In terms of trading volume, the authors find that high-volume industries have industry momentum effects while low-volume industries do not. The industry momentum strategies achieve higher excess returns in high-volume industries.

Prior literature found higher momentum returns in low-volume stocks in China, but the research in this study suggests that implementing an industry momentum strategy in low-volume industries will miss out on higher returns or even bring losses, and instead the investors should invest in high-volume industries to get the best performance.

This study extends existing research by focusing on industry momentum and its relationship with trading volume in the Chinese stock market and finds an interesting relationship between industry momentum returns and trading volume, which is different from related studies.

This paper assesses the environment of legitimacy by determining the role of institutional quality and policy uncertainty on the performance of five major South Asian stock markets (India, Pakistan, Bangladesh, Sri Lanka, and Nepal) using 21 years data from 2000 to 2020. The focus of this study is to approach the issue of the environment of legitimacy that leads to sustained market returns.

Panel cointegration tests of Kao and Pedroni are applied, and the Dynamic Panel Vector Autoregressive (PVAR) model is used to determine the estimates.

ADF P-Values of both Kao and Pedroni tests show that the panels are cointegrated; the statistical significance of the results of the Kao and Pedroni panel cointegration test confirms cointegration among the variables. After determining the most appropriate lag, the analysis is done using PVAR. The results indicate that institutional quality, policy uncertainty, and GDP positively affect stock market return. Meanwhile, government actions and inflation negatively affect stock market returns. On the other hand, stock market return positively affects institutional quality, government action, policy uncertainty, and GDP. While stock market return negatively affects inflation.

The sample is taken only from a limited number of South Asian countries, and the period is also limited to 21 years.

Based on our research findings, we have identified several policy implications recommended to enhance and sustain the performance of stock markets.

This paper uses a unique analytical tool, which gives a better insight into the problem. The value of this work lies in its findings, which also have practical implications and theoretical significance.