Li, Zhe; Ling, Zixi; Sun, Jian; Yun, Congjie - In: China journal of accounting research : CJAR 15 (2022) 4, pp. 1-19
By manually collecting data on Internet-based rumors concerning COVID-19, we investigate the market reactions to the spread of such rumors and the government's refutation of them. We find that frightening (reassuring) rumors have a negative (positive) impact on investors. The refutation of...