Energy RESEARCH LETTERS · 2020 · 202 citations · 15 references
Social SciencesEconomicsStrategic ManagementEconometricsEnergy EconomicsFinancial EconomicsCapital MarketsFinancial RiskMarket RiskNatural Gas Market EconomicsOil EconomicsPandemic ResponseEquity Return VolatilityNatural Gas Production EconomicsOil IndustryOil Price ShocksOil Price VolatilityOil Production EconomicsPandemic RiskVolatility
In this paper, we examine the reaction of US oil and gas producers to the COVID-19 pandemic. We find that firms react to COVID-19 heterogeneously. The pandemic significantly explains 28% of returns and 27% of return volatility. These findings are qualitatively consistent when using competing COVID-19 indicators.
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Investor Sentiment and the Cross‐Section of Stock Returns
Malcolm Baker, Jeffrey Wurgler · The Journal of Finance · 2006 · 6.1K citations · Full text
New evidence on oil price and firm returns
Paresh Kumar Narayan, Susan Sunila Sharma · Journal of Banking & Finance · 2011 · 538 citations