COVID-19 pandemic and capital markets: the role of government responses

This paper analyzes the moderation effect of government responses on the impact of the COVID-19 pandemic, proxied by the daily growth in COVID-19 cases and deaths, on the capital market, i.e., the S&P 500 firm’s daily returns. Using the Oxford COVID-19 Government Response Tracker, we monitor 16 daily indicators for government actions across the fields of containment and closure, economic support, and health for 180 countries in the period from January 1, 2020 to March 15, 2021. We find that government responses mitigate the negative stock market impact and that investors’ sentiment is sensitive to a firm’s country-specific revenue exposure to COVID-19. Our findings indicate that the mitigation effect is stronger for firms that are highly exposed to COVID-19 on the sales side. In more detail, containment and closure policies and economic support mitigate negative stock market impacts, while health system policies support further declines. For firms with high revenue exposure to COVID-19, the mitigation effect is stronger for government economic support and health system initiatives. Containment and closure policies do not mitigate stock price declines due to growing COVID-19 case numbers. Our results hold even after estimating the spread of the pandemic with an epidemiological standard model, namely, the susceptible-infectious-recovered model

Lesson from Indonesia: Covid-19 Testing Strategy In Obstetric Emergency Cases At Low-Resource Health Care Setting

Background: COVID-19 identification in obstetric emergency cases with limited resources is problematic, particularly in asymptomatic cases. Aim: To examine the screening strategies of COVID-19 obstetric emergency cases in low-resource health care settings. Method: A retrospective cohort design was carried out on patients with COVID-19 positive screening results. It was assessed based on symptoms, contact history, lymphocytopenia, chest X-rays, and rapid antibody tests compared to RT-PCR results SARS-COV-2. Result: Out of the 190 cases that came to the delivery room, the staff suspected 69 COVID-19 cases (36.3%) through the first screening protocol. Positive SARS-COV-2 RT-PCR was found in 23 cases with a majority asymptomatic (52.2%). The percentages of sensitivity and specificity from the parameters as follow: 48% and 74% in COVID-19 symptoms (febris or respiratory symptoms); 9% and 100% in contact history; 22% and 83% in lymphocytopenia; 52% and 48% in chest x-ray; 78% and 30% in rapid antibody test. Rapid antibody tests have the highest sensitivity to increase the identification of 12 asymptomatic cases. Conclusion: Other screening beyond symptoms and contact history such as lymphocytopenia, chest x-ray, and rapid antibody test can improve the identification, especially for asymptomatic cases in areas with the limited testing ability and high Covid-19 transmission

Maternal and Perinatal Outcome of COVID-19 in Obstetric Cases: 9 Months Experience from East Java Tertiary Referral Hospital

Background: Covid-19 infection in vulnerable obstetric patients still requires a lot of research, especially in developing countries to help determine the best policy to manage it. Objective: To analyze the characteristic of Covid-19 infection in obstetric patients. Methods: In an East Java tertiary Covid-19 referral hospital, a case control analysis was conducted using medical records on obstetric cases of Covid-19 infection from March until November 2021. Results: Covid-19 was identified in 109 cases (9.3%) from 1170 patients who came to our obstetric room. Majority came in pregnancy state with 76% and had delivered 93.6%. Most patients were asymptomatic (68.8%) with minimal contact history (2.8%). Comorbidity found in 41.3% cases, obesity and hypertension in pregnancy dominated the cases. Symptomatic cases were associated with lower gestational age (p=0,005) and birthweight (p=0,015), low lymphocyte count (p=0,006), abnormal chest X-Ray (p<0,001), intensive care admission (p=0,002) and maternal death (p<0,001), while asymptomatic cases were associated with more reactive antibody test (p=0,002). Conclusion: There were a high number of Covid-19 obstetric cases with the majority asymptomatic and came for delivery. Significantly higher reactive antibody tests in asymptomatic cases may aid Covid-19 identification. Covid-19 symptoms should be given more consideration, because they are linked to a lower gestational age, birth weight, poor clinical parameters, the need for intensive care, and maternal mortality

Social and environmental sustainability model on consumers’ altruism, green purchase intention, green brand loyalty, and evangelism

Across the globe, the awareness for environmental degradation and its harmful effects is rapidly growing. The whole world has come together to work in the direction to protect the environment. Consumers are increasingly becoming cautious towards the impact of their consumption pattern on environment and organisations can attain a competitive edge by leveraging this cautiousness by offering them green products/brands. However, it is importance for the marketers to understand that how increasing levels of sustainability awareness impacts other factors which explain pro-environmental behaviour of customers. To fill the existing gap in the current literature in this regard, the current study aims to build a structural model which includes social and environmental sustainability awareness in measuring customer altruism, buying intention, loyalty and customer evangelism. The theoretical model extends the existing framework of the Theory of Planned Behaviour (TPB) and explores the decision-making framework regarding ethical behaviour. Through existing literature review and expert input, the indicators (variables) for each construct were recognised. After that, data was collected from 331 respondents through a structurally designed questionnaire; the hypothetical model was test using the Structural Equation Modelling (SEM) technique. The findings of the study indicate that sustainability awareness positively influence the consumer altruism which in turn enhances the consumer purchase intention, green brand loyalty and green brand evangelism and altruism can and can bridge value-action gap for green brands. Current analysis supports the view that there are significant positive associations among the identified constructs.N/

Non-financial reporting and disclosure regulation

Die vorliegende Dissertation beschäftigt sich mit der Wirtschaftlichkeit verschiedener Berichterstattungsinstrumente zur Offenlegung nicht-finanzieller Informationen durch Unternehmen. Dabei werden die internen und externen ökonomischen Konsequenzen von Corporate Social Responsibility (CSR)- und Integrierten Berichten unter Berücksichtigung internationaler Standards und nationaler Regulierungen auf Basis theoriegeleiteter und empirisch fundierter Modelle analysiert. Die Ergebnisse lassen darauf schließen, dass (1) eine regulierte CSR-Berichterstattung zu einer Verringerung der Informationsasymmetrien am Kapitalmarkt führt, (2) Integrierte Berichte (noch) keinen Vorteil gegenüber CSR-Berichten in Bezug auf die Integration von CSR-Aspekten in das Geschäftsmodell eines Unternehmens sowie auf die wirtschaftliche und nachhaltige Unternehmensleistung aufweisen, und (3) die Entwicklung unterschiedlicher Rahmenwerke (z.B. GRI, IIRC, SASB) sowohl zu Synergien als auch Antagonismen geführt hat

CSR Disclosure and Corporate Reputation: Evidence from Firms’ Facebook Communication

This paper examines the impact of firms’ dissemination of corporate social responsibility (CSR) disclosure through Facebook on corporate reputation. We investigate this relationship empirically in the German setting by using a corporate reputation index that tracks the general public’s perceptions of corporate reputation over time. Using firms’ discretionary use of Facebook to communicate CSR information, we find that firms posting single or multiple CSR information experience a decrease in corporate reputation. More specifically, this effect becomes larger with time. Additional analyses indicate that non-professional stakeholders perceive reputation as being lower if a firm increases the number of CSR postings suggesting a diluting effect if CSR communication is high (quantity effect). However, if we differentiate postings based on whether their content relates to an environment, social or economic activity of a firm, we find a positive effect on reputation for firms posting environmental information (quality effect). Also, only firms with an above-average amount of earned media attention, as well as “Likes”, “Comments”, and “Shares” experience a significant decrease in corporate reputation with an increase in the number of CSR posts. Overall, findings suggest that non-professional stakeholders perceive social and economic activities related to CSR as a greenwashing tool with a doubtable sustainable impact. Only additional photos can turn over this negative effect with an increase in the number of CSR postings as such having a positive effect on corporate reputation possibly providing evidence to the non-professional stakeholders that a sustainable activity stays behind the verbal posting

SARS-COV-2 ANTIBODY TEST FOR THE HOSPITALISED EMERGENCY OBSTETRIC CASES: USEFUL OR WASTEFUL

Background: The emergency, labor and delivery conditions in obstetric cases need a clinical decision in a timely manner. The identication of Covid-19 especially in asymptomatic obstetric cases with ease and rapid antibody test need further investigation. Objective: To analyze the usability and performance of rapid antibody test in obstetric cases. Methods: Case control study using medical record on Covid-19 obstetric cases over 9 months with paired nasopharyngeal reverse transcriptase polymerase chain reaction severe acute respi-ratory syndrome coronavirus 2 and rapid antibody test results. Results: There were 92 Covid-19 obstetric cases (incidence: 17.4%) and 210 reactive rapid antibody test (seroprevalence: 39.6%). The sensitivity, specicity, positive predictive value and negative predictive value of rapid antibody tests was 89%, 24%, 40%, 80%. Symptomatic cases have lower sensitivity (73% vs. 96%) and higher specicity (48% vs. 20%). The presence of Covid-19 symptoms (p<0.05) and reactive rapid antibody test (p<0.001) were associated with Covid-19. Rapid antibody test will identify larger Covid-19 obstetric cases compare with the presence of symptom only (89.4% vs. 27.7%. Conclusion: Screening by rapid antibody test had a high sensitivity but low specicity. This test will identify more Covid-19 cases compared by symptoms only due to majority asymptomatic obstetric cases. This simple, cheap and rapid antibody test still has a place in initial screening to help identify Covid-19 in areas with widespread transmission and has limited capacity to carry out universal screening

Maternal and perinatal outcome of covid-19 in obstetric cases: 9 months experience from east java tert iary referral hospital

Abstract Background: Covid-19 infection in vulnerable obstetric patients still requires a lot of research, especially in developing countries to help determine the best policy to manage it. Objective: To analyze the characteristic of Covid-19 infection in obstetric patients. Methods: In an East Java tertiary Covid-19 referral hospital, a case control analysis was conducted using medical records on obstetric cases of Covid-19 infection from March until November 2021. Results: Covid-19 was identified in 109 cases (9.3%) from 1170 patients who came to our obstetric room. Majority came in pregnancy state with 76% and had delivered 93.6%. Most patients were asymptomatic (68.8%) with minimal contact history (2.8%). Comorbidity found in 41.3% cases, obesity and hypertension in pregnancy dominated the cases. Symptomatic cases were associated with lower gestational age (p=0,005) and birthweight (p=0,015), low lymphocyte count (p=0,006), abnormal chest X-Ray (p<0,001), intensive care admission (p=0,002) and maternal death (p<0,001), while asymptomatic cases were associated with more reactive antibody test (p=0,002). Conclusion: There were a high number of Covid-19 obstetric cases with the majority asymptomatic and came for delivery. Significantly higher reactive antibody tests in asymptomatic cases may aid Covid-19 identification. Covid-19 symptoms should be given more consideration, because they are linked to a lower gestational age, birth weight, poor clinical parameters, the need for intensive care, and maternal mortality