TY - JOUR
T1 - Internet search volumes of UK banks during the crisis
T2 - The role of banking structure and business model
AU - Arnold, Ivo J.M.
N1 - JEL classifications: G01, G21, G28
Publisher Copyright:
© 2019 Elsevier Inc.
PY - 2020/8
Y1 - 2020/8
N2 - This paper investigates the sensitivity of Google search volumes to the global financial crisis, using a large sample of UK banks. We find that abnormal volumes of searches on bank names are a timely indicator of credit risk, as measured by credit default swap rates, and are strongly related to crisis indicators. Search volumes for retail, private, and universal banks react more strongly than search volumes for other banks, suggesting that depositor concerns drive search volumes. Search volumes for internet banks and for European banks operating in the UK through branches are especially sensitive to crises.
AB - This paper investigates the sensitivity of Google search volumes to the global financial crisis, using a large sample of UK banks. We find that abnormal volumes of searches on bank names are a timely indicator of credit risk, as measured by credit default swap rates, and are strongly related to crisis indicators. Search volumes for retail, private, and universal banks react more strongly than search volumes for other banks, suggesting that depositor concerns drive search volumes. Search volumes for internet banks and for European banks operating in the UK through branches are especially sensitive to crises.
UR - http://www.scopus.com/inward/record.url?scp=85065573033&partnerID=8YFLogxK
U2 - 10.1016/j.gfj.2019.05.001
DO - 10.1016/j.gfj.2019.05.001
M3 - Article
AN - SCOPUS:85065573033
SN - 1044-0283
VL - 45
JO - Global Finance Journal
JF - Global Finance Journal
M1 - 100472
ER -