{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,9,2]],"date-time":"2026-09-02T14:02:40Z","timestamp":1788357760149,"version":"build-2803163510"},"reference-count":39,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/legal\/tdmrep-license"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-017"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-037"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-012"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-029"},{"start":{"date-parts":[[2022,12,1]],"date-time":"2022-12-01T00:00:00Z","timestamp":1669852800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-004"}],"content-domain":{"domain":["elsevier.com","sciencedirect.com"],"crossmark-restriction":true},"short-container-title":["Research in International Business and Finance"],"published-print":{"date-parts":[[2022,12]]},"DOI":"10.1016\/j.ribaf.2022.101801","type":"journal-article","created":{"date-parts":[[2022,11,3]],"date-time":"2022-11-03T03:45:02Z","timestamp":1667447102000},"page":"101801","update-policy":"https:\/\/doi.org\/10.1016\/elsevier_cm_policy","source":"Crossref","is-referenced-by-count":17,"special_numbering":"C","title":["Cryptocurrency market connectedness in Covid-19 days and the role of Twitter: Evidence from a smooth transition regression model"],"prefix":"10.1016","volume":"63","author":[{"given":"Nikolaos","family":"Giannellis","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","reference":[{"issue":"4","key":"10.1016\/j.ribaf.2022.101801_bib1","doi-asserted-by":"crossref","first-page":"84","DOI":"10.3390\/jrfm13040084","article-title":"Refined measures of dynamic connectedness based on time-varying parameter vector autoregressions","volume":"13","author":"Antonakakis","year":"2020","journal-title":"J. Risk Financ. Manag."},{"key":"10.1016\/j.ribaf.2022.101801_bib2","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101685","article-title":"Convergence in cryptocurrency prices? The role of market microstructure","volume":"40","author":"Apergis","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib3","doi-asserted-by":"crossref","DOI":"10.1007\/s00181-020-01990-5","article-title":"The volatility of Bitcoin and its role as a medium of exchange and a store of value","volume":"61","author":"Baur","year":"2021","journal-title":"Empir. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib4","article-title":"Asymmetric volatility in cryptocurrency markets: new evidence from smooth transition GARCH models","volume":"35","author":"Ben Cheikh","year":"2020","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib5","doi-asserted-by":"crossref","first-page":"5935","DOI":"10.1080\/00036846.2018.1488075","article-title":"Spillovers between Bitcoin and other assets during bear and bull markets","volume":"50","author":"Bouri","year":"2018","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib6","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101497","article-title":"Return equicorrelation in the cryptocurrency market: analysis and determinants","volume":"38","author":"Bouri","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib7","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.qref.2020.12.003","article-title":"EMU risk-synchronisation and financial fragility through the prism of dynamic connectedness","volume":"79","author":"Chatziantoniou","year":"2021","journal-title":"Q. Rev. Econ. Financ."},{"key":"10.1016\/j.ribaf.2022.101801_bib8","doi-asserted-by":"crossref","DOI":"10.1016\/j.ribaf.2020.101248","article-title":"Are cryptocurrencies a safe haven for equity markets? An Int. perspective from the COVID-19 pandemic","volume":"54","author":"Conlon","year":"2020","journal-title":"Res. Int. Bus. Financ."},{"key":"10.1016\/j.ribaf.2022.101801_bib9","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101554","article-title":"The contagion effects of the COVID-19 pandemic: evidence from gold and cryptocurrencies","volume":"35","author":"Corbet","year":"2020","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib10","doi-asserted-by":"crossref","first-page":"145","DOI":"10.1016\/j.frl.2018.01.005","article-title":"Does economic policy uncertainty predict the Bitcoin returns? An empirical investigation","volume":"26","author":"Demir","year":"2018","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib11","doi-asserted-by":"crossref","first-page":"349","DOI":"10.1007\/s40822-020-00154-1","article-title":"The relationship between cryptocurrencies and COVID-19 pandemic","volume":"10","author":"Demir","year":"2020","journal-title":"Eurasia Econ. Rev."},{"key":"10.1016\/j.ribaf.2022.101801_bib12","doi-asserted-by":"crossref","first-page":"57","DOI":"10.1016\/j.ijforecast.2011.02.006","article-title":"Better to give than to receive: predictive directional measurement of volatility spillovers","volume":"28","author":"Diebold","year":"2012","journal-title":"Int. J. Forecast."},{"key":"10.1016\/j.ribaf.2022.101801_bib13","doi-asserted-by":"crossref","first-page":"158","DOI":"10.1111\/j.1468-0297.2008.02208.x","article-title":"Measuring financial asset return and volatility spillovers, with application to global equity markets","volume":"119","author":"Diebold","year":"2009","journal-title":"Econ. J."},{"key":"10.1016\/j.ribaf.2022.101801_bib14","doi-asserted-by":"crossref","first-page":"119","DOI":"10.1016\/j.jeconom.2014.04.012","article-title":"On the network topology of variance decompositions: measuring the connectedness of financial firms","volume":"182","author":"Diebold","year":"2014","journal-title":"J. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib15","doi-asserted-by":"crossref","first-page":"139","DOI":"10.1016\/j.frl.2015.10.025","article-title":"Hedging capabilities of bitcoin. Is it the virtual gold?","volume":"16","author":"Dyhrberg","year":"2016","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib16","series-title":"Nonlinear Time Series Analysis of Economic and Financial Data. Dynamic Modeling and Econometrics in Econ. and Finance","article-title":"Improved testing and specification of smooth transition regression models","volume":"vol.1","author":"Escribano","year":"1999"},{"key":"10.1016\/j.ribaf.2022.101801_bib17","first-page":"76","article-title":"Asymmetric interdependencies between large capital cryptocurrency and gold returns during the COVID-19 pandemic crisis","author":"Gonz\u00e1lez","year":"2021","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2022.101801_bib18","first-page":"76","article-title":"Diversifying equity with cryptocurrencies during COVID-19","author":"Goodell","year":"2021","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2022.101801_bib19","doi-asserted-by":"crossref","first-page":"48","DOI":"10.3390\/jrfm11030048","article-title":"Can bitcoin replace gold in an investment portfolio?","volume":"11","author":"Henriques","year":"2018","journal-title":"J. Risk Financ. Manag"},{"key":"10.1016\/j.ribaf.2022.101801_bib20","doi-asserted-by":"crossref","first-page":"257","DOI":"10.1016\/j.irfa.2018.12.002","article-title":"Dynamic connectedness and integration in cryptocurrency markets","volume":"63","author":"Ji","year":"2019","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2022.101801_bib21","doi-asserted-by":"crossref","first-page":"68","DOI":"10.1016\/j.frl.2019.03.009","article-title":"Volatility spillover effects in leading cryptocurrencies: a BEKK-MGARCH analysis","volume":"29","author":"Katsiampa","year":"2019","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib22","doi-asserted-by":"crossref","first-page":"35","DOI":"10.1016\/j.intfin.2019.05.003","article-title":"High frequency volatility co-movements in cryptocurrency markets","volume":"62","author":"Katsiampa","year":"2019","journal-title":"J. Int. Financ. Mark., Inst. Money"},{"key":"10.1016\/j.ribaf.2022.101801_bib23","article-title":"Exploring the relationship between cryptocurrencies and hedge funds during COVID-19 crisis","volume":"76","author":"Khelifa","year":"2021","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2022.101801_bib24","doi-asserted-by":"crossref","first-page":"101","DOI":"10.1016\/j.euroecorev.2014.07.002","article-title":"A new index of financial conditions","volume":"71","author":"Koop","year":"2014","journal-title":"Eur. Econ. Rev."},{"issue":"1","key":"10.1016\/j.ribaf.2022.101801_bib25","doi-asserted-by":"crossref","first-page":"119","DOI":"10.1016\/0304-4076(95)01753-4","article-title":"Impulse response analysis in nonlinear multivariate models","volume":"74","author":"Koop","year":"1996","journal-title":"J. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib26","doi-asserted-by":"crossref","first-page":"122","DOI":"10.1016\/j.econlet.2018.10.004","article-title":"Return and volatility spillovers among cryptocurrencies","volume":"173","author":"Koutmos","year":"2018","journal-title":"Econ. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib27","first-page":"59","article-title":"Time and frequency connectedness and portfolio diversification between cryptocurrencies and renewable energy stock markets during COVID-19","author":"Li","year":"2022","journal-title":"N. Am. J. Econ. Financ."},{"key":"10.1016\/j.ribaf.2022.101801_bib28","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101534","article-title":"Quantifying the spillover effect in the cryptocurrency market","volume":"38","author":"Moratis","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib29","doi-asserted-by":"crossref","first-page":"280","DOI":"10.1080\/00036846.2021.1950908","article-title":"COVID-19 and cryptocurrency market: evidence from quantile connectedness","volume":"54","author":"Naeem","year":"2022","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib30","doi-asserted-by":"crossref","first-page":"2497","DOI":"10.1002\/ijfe.2283","article-title":"Influences of uncertainty on the returns and liquidity of cryptocurrencies: evidence from a portfolio approach","volume":"27","author":"Nguyen Quang","year":"2020","journal-title":"Int. J. Financ. Econ."},{"key":"10.1016\/j.ribaf.2022.101801_bib31","doi-asserted-by":"crossref","first-page":"235","DOI":"10.1016\/j.frl.2018.03.016","article-title":"On the determinants of bitcoin returns: a LASSO approach","volume":"27","author":"Panagiotidis","year":"2018","journal-title":"Financ. Res. Lett."},{"issue":"1","key":"10.1016\/j.ribaf.2022.101801_bib32","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1016\/S0165-1765(97)00214-0","article-title":"Generalized impulse response analysis in linear multivariate models","volume":"58","author":"Pesaran","year":"1998","journal-title":"Econ. Lett."},{"issue":"6","key":"10.1016\/j.ribaf.2022.101801_bib33","doi-asserted-by":"crossref","first-page":"1771","DOI":"10.1111\/j.1468-0262.2007.00811.x","article-title":"Transition Modeling and Econometric Convergence Tests","volume":"75","author":"Phillips","year":"2007","journal-title":"Econometrica"},{"key":"10.1016\/j.ribaf.2022.101801_bib34","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2021.102569","article-title":"How does COVID-19 influence dynamic spillover connectedness between cryptocurrencies? Evidence from non-parametric causality-in-quantiles techniques","volume":"47","author":"Raza","year":"2022","journal-title":"Financ. Res. Lett."},{"issue":"425","key":"10.1016\/j.ribaf.2022.101801_bib35","first-page":"208","article-title":"Specification, estimation, and evaluation of smooth transition autoregressive models","volume":"89","author":"Ter\u00e4svirta","year":"1994","journal-title":"J. Am. Stat. Assoc."},{"key":"10.1016\/j.ribaf.2022.101801_bib36","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101428","article-title":"Economic policy uncertainty and cryptocurrency volatility","volume":"38","author":"Yen","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2022.101801_bib37","doi-asserted-by":"crossref","first-page":"98","DOI":"10.1016\/j.irfa.2018.08.012","article-title":"Volatility connectedness in the cryptocurrency market: Is Bitcoin a dominant cryptocurrency?","volume":"60","author":"Yi","year":"2018","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2022.101801_bib38","doi-asserted-by":"crossref","first-page":"233","DOI":"10.1016\/j.iref.2020.11.013","article-title":"Understanding cryptocurrency volatility: the role of oil market shocks","volume":"72","author":"Yin","year":"2021","journal-title":"Int. Rev. Econ. Financ."},{"key":"10.1016\/j.ribaf.2022.101801_bib39","doi-asserted-by":"crossref","first-page":"45","DOI":"10.1186\/s40854-020-00213-1","article-title":"Discovering interlinkages between major cryptocurrencies using high-frequency data: new evidence from COVID-19 pandemic","volume":"6","author":"Yousaf","year":"2020","journal-title":"Financ. Innov."}],"container-title":["Research in International Business and Finance"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0275531922001878?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0275531922001878?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2025,10,3]],"date-time":"2025-10-03T12:58:57Z","timestamp":1759496337000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S0275531922001878"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2022,12]]},"references-count":39,"alternative-id":["S0275531922001878"],"URL":"https:\/\/doi.org\/10.1016\/j.ribaf.2022.101801","relation":{},"ISSN":["0275-5319"],"issn-type":[{"value":"0275-5319","type":"print"}],"subject":[],"published":{"date-parts":[[2022,12]]},"assertion":[{"value":"Elsevier","name":"publisher","label":"This article is maintained by"},{"value":"Cryptocurrency market connectedness in Covid-19 days and the role of Twitter: Evidence from a smooth transition regression model","name":"articletitle","label":"Article Title"},{"value":"Research in International Business and Finance","name":"journaltitle","label":"Journal Title"},{"value":"https:\/\/doi.org\/10.1016\/j.ribaf.2022.101801","name":"articlelink","label":"CrossRef DOI link to publisher maintained version"},{"value":"article","name":"content_type","label":"Content Type"},{"value":"\u00a9 2022 Elsevier B.V. All rights reserved.","name":"copyright","label":"Copyright"}],"article-number":"101801"}}