Corisk Index

Last updated

The CoRisk Index is the first[ according to whom? ] economic indicator of industry risk assessments related to COVID-19. In contrast to conventional economic climate indexes, e.g. the Ifo Business Climate Index or Purchasing Managers' Index, the CoRisk Index relies on automatically retrieved company filings. [1] The index has been developed by a team of researchers at the Oxford Internet Institute, University of Oxford, and the Hertie School of Governance in March 2020. It gained international media attention [2] [3] [4] [5] as an up-to-date empirical source for policy makers and researchers [6] [7] [8] [9] [10] [11] investigating the economic repercussions of the Coronavirus Recession.

Contents

Methodology

The index is calculated with the use of company 10-k risk reports filed to the U.S. Securities and Exchange Commission (SEC). The CoRisk Index is calculated industry-specific as a geometric mean of three measures: , [1] where k refers to the average industry count of Corona-related keywords used in each report and n represents the average industry share of negative keywords in Corona-related sentences.

Related Research Articles

<span class="mw-page-title-main">Gini coefficient</span> Measure of inequality of a distribution

In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini.

<span class="mw-page-title-main">Mortality rate</span> Deaths per 1000 individuals per year

Mortality rate, or death rate, is a measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time. Mortality rate is typically expressed in units of deaths per 1,000 individuals per year; thus, a mortality rate of 9.5 in a population of 1,000 would mean 9.5 deaths per year in that entire population, or 0.95% out of the total. It is distinct from "morbidity", which is either the prevalence or incidence of a disease, and also from the incidence rate.

<span class="mw-page-title-main">Oxford Internet Institute</span> Research institute at the University of Oxford

The Oxford Internet Institute (OII) serves as a hub for interdisciplinary research, combining social and computer science to explore information, communication, and technology. It is an integral part of the University of Oxford's Social Sciences Division in England.

<span class="mw-page-title-main">Contact tracing</span> Finding and identifying people in contact with someone with an infectious disease

In public health, contact tracing is the process of identifying persons who may have been exposed to an infected person ("contacts") and subsequent collection of further data to assess transmission. By tracing the contacts of infected individuals, testing them for infection, and isolating or treating the infected, this public health tool aims to reduce infections in the population. In addition to infection control, contact tracing serves as a means to identify high-risk and medically vulnerable populations who might be exposed to infection and facilitate appropriate medical care. In doing so, public health officials utilize contact tracing to conduct disease surveillance and prevent outbreaks. In cases of diseases of uncertain infectious potential, contact tracing is also sometimes performed to learn about disease characteristics, including infectiousness. Contact tracing is not always the most efficient method of addressing infectious disease. In areas of high disease prevalence, screening or focused testing may be more cost-effective.

<span class="mw-page-title-main">VIX</span> Volatility index

VIX is the ticker symbol and the popular name for the Chicago Board Options Exchange's CBOE Volatility Index, a popular measure of the stock market's expectation of volatility based on S&P 500 index options. It is calculated and disseminated on a real-time basis by the CBOE, and is often referred to as the fear index or fear gauge.

<span class="mw-page-title-main">COVID-19 pandemic</span> Pandemic caused by SARS-CoV-2

The COVID-19 pandemic, also known as the coronavirus pandemic, is a global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified in an outbreak in Wuhan, the capital of Hubei, China, in December 2019, before it spread to other areas of Asia, and then worldwide in early 2020. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern (PHEIC) on 30 January 2020, and assessed the outbreak had become a pandemic on 11 March 2020. The WHO ended the PHEIC on 5 May 2023. As of 19 April 2024, the pandemic has caused 7,043,660 confirmed deaths, making it the fifth-deadliest pandemic or epidemic in history.

<span class="mw-page-title-main">Coronavirus diseases</span> List of Coronavirus diseases

Coronavirus diseases are caused by viruses in the coronavirus subfamily, a group of related RNA viruses that cause diseases in mammals and birds. In humans and birds, the group of viruses cause respiratory tract infections that can range from mild to lethal. Mild illnesses in humans include some cases of the common cold, while more lethal varieties can cause SARS, MERS and COVID-19. As of 2021, 45 species are registered as coronaviruses, whilst 11 diseases have been identified, as listed below.

<span class="mw-page-title-main">COVID-19</span> Contagious disease caused by SARS-CoV-2

Coronavirus disease 2019 (COVID-19) is a contagious disease caused by the coronavirus SARS-CoV-2. The first known case was identified in Wuhan, China, in December 2019. The disease quickly spread worldwide, resulting in the COVID-19 pandemic.

<span class="mw-page-title-main">Neil Ferguson (epidemiologist)</span> British epidemiologist and researcher

Neil Morris Ferguson is a British epidemiologist and professor of mathematical biology, who specialises in the patterns of spread of infectious disease in humans and animals. He is the director of the Jameel Institute, and of the MRC Centre for Global Infectious Disease Analysis, and head of the Department of Infectious Disease Epidemiology in the School of Public Health and Vice-Dean for Academic Development in the Faculty of Medicine, all at Imperial College London.

<span class="mw-page-title-main">COVID-19 vaccine</span> Vaccine against SARS-CoV-2

A COVID‑19 vaccine is a vaccine intended to provide acquired immunity against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes coronavirus disease 2019 (COVID‑19).

<span class="mw-page-title-main">COVID-19 in pregnancy</span> Overview about the effects of COVID-19 infection on pregnancy

COVID-19 infection in pregnancy is associated with several pregnancy complications. However, pregnancy does not appear to increase the susceptibility of becoming infected by COVID-19. Recommendations for the prevention of COVID-19 include the same measures as non-pregnant people.

<span class="mw-page-title-main">Media coverage of the COVID-19 pandemic</span> Aspect of viral outbreak

Media coverage of the COVID-19 pandemic has varied by country, time period and media outlet. News media has simultaneously kept viewers informed about current events related to the pandemic, and contributed to misinformation or fake news.

<span class="mw-page-title-main">Impact of the COVID-19 pandemic on the environment</span> COVID-19 pandemic on environmental issues and Earths climate

The COVID-19 pandemic has had an impact on the environment, with changes in human activity leading to temporary changes in air pollution, greenhouse gas emissions and water quality. As the pandemic became a global health crisis in early 2020, various national responses including lockdowns and travel restrictions caused substantial disruption to society, travel, energy usage and economic activity, sometimes referred to as the "anthropause". As public health measures were lifted later in the pandemic, its impact has sometimes been discussed in terms of effects on implementing renewable energy transition and climate change mitigation.

<span class="mw-page-title-main">Exposure Notification</span> Initiative for mobile device-based privacy-preserving contact tracing

The (Google/Apple) Exposure Notification System (GAEN) is a framework and protocol specification developed by Apple Inc. and Google to facilitate digital contact tracing during the COVID-19 pandemic. When used by health authorities, it augments more traditional contact tracing techniques by automatically logging close approaches among notification system users using Android or iOS smartphones. Exposure Notification is a decentralized reporting protocol built on a combination of Bluetooth Low Energy technology and privacy-preserving cryptography. It is an opt-in feature within COVID-19 apps developed and published by authorized health authorities. Unveiled on April 10, 2020, it was made available on iOS on May 20, 2020 as part of the iOS 13.5 update and on December 14, 2020 as part of the iOS 12.5 update for older iPhones. On Android, it was added to devices via a Google Play Services update, supporting all versions since Android Marshmallow.

<span class="mw-page-title-main">CoronaVac</span> Vaccine against COVID-19

CoronaVac, also known as the Sinovac COVID-19 vaccine, is a whole inactivated virus COVID-19 vaccine developed by the Chinese company Sinovac Biotech. It was phase III clinically trialled in Brazil, Chile, Indonesia, the Philippines, and Turkey and relies on traditional technology similar to other inactivated-virus COVID-19 vaccines, such as the Sinopharm BIBP vaccine, another Chinese vaccine, and Covaxin, an Indian vaccine. CoronaVac does not need to be frozen, and both the final product and the raw material for formulating CoronaVac can be transported refrigerated at 2–8 °C (36–46 °F), the temperatures at which flu vaccines are kept.

<span class="mw-page-title-main">Public health mitigation of COVID-19</span> Measures to halt the spread of the respiratory disease among populations

Part of managing an infectious disease outbreak is trying to delay and decrease the epidemic peak, known as flattening the epidemic curve. This decreases the risk of health services being overwhelmed and provides more time for vaccines and treatments to be developed. Non-pharmaceutical interventions that may manage the outbreak include personal preventive measures such as hand hygiene, wearing face masks, and self-quarantine; community measures aimed at physical distancing such as closing schools and cancelling mass gathering events; community engagement to encourage acceptance and participation in such interventions; as well as environmental measures such surface cleaning. It has also been suggested that improving ventilation and managing exposure duration can reduce transmission.

<span class="mw-page-title-main">ZyCoV-D</span> Vaccine candidate against COVID-19

ZyCoV-D is a DNA plasmid-based COVID-19 vaccine developed by Indian pharmaceutical company Cadila Healthcare, with support from the Biotechnology Industry Research Assistance Council. It is approved for emergency use in India.

The COVID-19 pandemic has had an unequal impact on different racial and ethnic groups in the United States, resulting in new disparities of health outcomes as well as exacerbating existing health and economic disparities.

<span class="mw-page-title-main">COVID-19 vaccine clinical research</span> Clinical research to establish the characteristics of COVID-19 vaccines

COVID-19 vaccine clinical research uses clinical research to establish the characteristics of COVID-19 vaccines. These characteristics include efficacy, effectiveness, and safety. As of November 2022, 40 vaccines are authorized by at least one national regulatory authority for public use:

Ordinal priority approach (OPA) is a multiple-criteria decision analysis method that aids in solving the group decision-making problems based on preference relations.

References

  1. 1 2 Stephany, Fabian; Neuhäuser, Leonie; Stoehr, Niklas; Darius, Philipp; Teutloff, Ole; Braesemann, Fabian (2022-02-02). "The CoRisk-Index: a data-mining approach to identify industry-specific risk perceptions related to Covid-19". Humanities and Social Sciences Communications. 9 (1): 1–15. doi: 10.1057/s41599-022-01039-1 . hdl: 20.500.11850/532071 . ISSN   2662-9992.
  2. "Analysis | Crisis begins to hit professional and public-sector jobs once considered safe". Washington Post. ISSN   0190-8286 . Retrieved 2022-08-29.
  3. Guldner, Jan. "Rezession und Instabilität: So steht der Pegel der Corona-Angst". www.wiwo.de (in German). Retrieved 2022-08-29.
  4. smartlighting (2020-05-06). "Nuevo índice online analiza preocupaciones comerciales ante COVID-19". smartlighting (in Spanish). Retrieved 2022-08-29.
  5. "New online index shows business concerns over COVID-19 | University of Oxford". www.ox.ac.uk. Retrieved 2022-08-29.
  6. Latif, Siddique; Usman, Muhammad; Manzoor, Sanaullah; Iqbal, Waleed; Qadir, Junaid; Tyson, Gareth; Castro, Ignacio; Razi, Adeel; Boulos, Maged N. Kamel; Weller, Adrian; Crowcroft, Jon (2020-09-04). "Leveraging Data Science To Combat COVID-19: A Comprehensive Review". doi: 10.36227/techrxiv.12212516.v2 .{{cite journal}}: Cite journal requires |journal= (help)
  7. Béland, Louis-Philippe; Brodeur, Abel; Wright, Taylor (2020-04-27). "The Short-Term Economic Consequences of Covid-19: Exposure to Disease, Remote Work and Government Response". Rochester, NY.{{cite journal}}: Cite journal requires |journal= (help)
  8. "DATA in the time of COVID-19". Open Data Watch. 2020-11-13. Retrieved 2022-08-29.
  9. Brodeur, Abel; Clark, Andrew E.; Fleche, Sarah; Powdthavee, Nattavudh (2021-01-01). "COVID-19, lockdowns and well-being: Evidence from Google Trends" (PDF). Journal of Public Economics. 193: 104346. doi: 10.1016/j.jpubeco.2020.104346 . ISSN   0047-2727.
  10. Brodeur, Abel; Cook, Nikolai; Wright, Taylor (2021-03-01). "On the effects of COVID-19 safer-at-home policies on social distancing, car crashes and pollution". Journal of Environmental Economics and Management. 106: 102427. doi: 10.1016/j.jeem.2021.102427 . ISSN   0095-0696. PMC   7864793 .
  11. Davis, Steven J.; Hansen, Stephen; Seminario-Amez, Cristhian (September 2020). "Firm-Level Risk Exposures and Stock Returns in the Wake of COVID-19".{{cite journal}}: Cite journal requires |journal= (help)