Ahelegbey Daniel Felix, Cerchiello Paola, Scaramozzino Roberta
Department of Economics and Management, University of Pavia, Via San Felice 7, 27100 Pavia, Italy.
Int Rev Financ Anal. 2022 May;81:102101. doi: 10.1016/j.irfa.2022.102101. Epub 2022 Mar 21.
How much the largest worldwide companies, belonging to different sectors of the economy, are suffering from the pandemic? Are economic relations among them changing? In this paper, we address such issues by analyzing the top 50 S&P companies by means of market and textual data. Our work proposes a network analysis model that combines such two types of information to highlight the connections among companies with the purpose of investigating the relationships before and during the pandemic crisis. In doing so, we leverage a large amount of textual data through the employment of a sentiment score which is coupled with standard market data. Our results show that the COVID-19 pandemic has largely affected the US productive system, however differently sector by sector and with more impact during the second wave compared to the first.
全球不同经济领域的大型公司受疫情影响程度如何？它们之间的经济关系是否正在发生变化？在本文中，我们通过分析标准普尔排名前50的公司的市场和文本数据来探讨此类问题。我们的研究提出了一种网络分析模型，该模型结合了这两种类型的信息，以突出公司之间的联系，目的是调查疫情危机之前和期间的关系。在此过程中，我们通过使用与标准市场数据相结合的情感评分来利用大量文本数据。我们的结果表明，新冠疫情在很大程度上影响了美国的生产体系，然而不同行业受到的影响不同，与第一波相比，第二波的影响更大。
