Human Capital efficiency and equity funds’ performance during the COVID-19 pandemic

By L. Yarovaya, Nawazish Mirza, Jamila Abaidi, Amir Hasnaoui. International Review of Economics and Finance, 2020

176 citations recorded by the source corpus.

The paper investigates the impact of human capital efficiency (HCE) on equity funds’ performance during three stages of the COVID-19 pandemic. We collected data for 799 open-ended equity funds across five EU countries and ranked them in five categories of HCE and compare their risk-adjusted performance across these categories. The results suggest that during the COVID-19 outbreak, the equity funds that were ranked higher in HCE outperformed their counterparts. We suggest that fund managers should invest in human capital to improve funds’ coping ability and resilience during periods of extreme stress.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/9f35745159ba888b07ff10d3590540420eed42ac

Citations in the corpus

• To what extent does COVID-19 drive stock market volatility? A comparison between the U.S. and China (2021, unknown): “Since 2020, the number of papers discussing the impact of COVID-19 (Mirza et al., 2020a, 2020b, 2020c; Rizvi et al., 2020; Yarovaya et al., 2021), especially its impact on the stock market has increased (Sharif et al., 2020; Zhang et al., 2020).”
• The nexus between COVID-19 fear and stock market volatility (2021, unknown): “This led to a new argument, linking the fear index of infectious disease and, simultaneously, the coronavirus, with a severe effect on stock market volatility (Alemzero et al., 2020a; 2020b; Mirza et al., 2020b; Yarovaya et al., 2021).”