{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,31]],"date-time":"2026-01-31T18:39:23Z","timestamp":1769884763779,"version":"3.49.0"},"reference-count":87,"publisher":"MDPI AG","issue":"12","license":[{"start":{"date-parts":[[2024,11,26]],"date-time":"2024-11-26T00:00:00Z","timestamp":1732579200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Computation"],"abstract":"<jats:p>This study examines the short- and long-term effects of multiple quantiles of forward exchange rate premiums (FERPs) and COVID-19 cases on the quantiles of stock market returns (SMRs). We extend the Quantile Autoregressive Distributive Lag (QARDL) model, and the Multiple Threshold Non-linear Autoregressive Distributive Lag (NARDL) model propose a new Multiple Threshold Quantile Autoregressive Distributive Lag (MT-QARDL) approach. Unlike MT-NARDL, QARDL, and NARDL, the MT-QARDL model, which integrates the MT-NARDL model and the quantile regression methodology, captures both short- and long-term locational and sign-based asymmetries. For instance, at lower quantiles for Indian and Sri Lankan SMRs, bearish FERP exerts a positive influence, while bullish FERP has a negative effect during COVID-19. Conversely, bullish FERP negatively affects lower quantiles of SMRs of Bangladesh, India, and Sri Lanka, whereas bearish FERP either yields an opposite effect or remain statistically insignificant during COVID-19. The findings underscore long-term sign-based asymmetries due to the differential bearish and bullish FERP impact during COVID-19. However, in the long term, location-based asymmetries also existed as bullish FERP negative influence the SMRs of India, Bangladesh and Sri Lanka at higher quantiles but SMRs at lower quantiles insignificantly respond to the bullish FERP fluctuations during COVID-19.<\/jats:p>","DOI":"10.3390\/computation12120233","type":"journal-article","created":{"date-parts":[[2024,11,27]],"date-time":"2024-11-27T04:20:12Z","timestamp":1732681212000},"page":"233","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":7,"title":["Multiple Behavioral Conditions of the Forward Exchange Rates and Stock Market Return in the South Asian Stock Markets During COVID-19: A Novel MT-QARDL Approach"],"prefix":"10.3390","volume":"12","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-3688-7224","authenticated-orcid":false,"given":"Mosab I.","family":"Tabash","sequence":"first","affiliation":[{"name":"Department of Business Administration, College of Business, Al Ain University, Al Ain P.O. Box 64141, United Arab Emirates"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3034-2821","authenticated-orcid":false,"given":"Adel","family":"Ahmed","sequence":"additional","affiliation":[{"name":"Amity Business School, Amity University Dubai, Dubai International Academic City, Dubai P.O. Box 345019, United Arab Emirates"}]},{"ORCID":"https:\/\/orcid.org\/0009-0000-7370-7806","authenticated-orcid":false,"given":"Suzan Sameer","family":"Issa","sequence":"additional","affiliation":[{"name":"Faculty of Administrative and Financial Sciences, University of Petra, Amman P.O. Box 961343, Jordan"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-7166-0063","authenticated-orcid":false,"given":"Marwan","family":"Mansour","sequence":"additional","affiliation":[{"name":"Business Faculty, Accounting Department, Amman Arab University, Amman 11953, Jordan"},{"name":"Jadara Research Center, Jadara University, Irbid 21110, Jordan"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-5935-8785","authenticated-orcid":false,"given":"Manishkumar","family":"Varma","sequence":"additional","affiliation":[{"name":"MIESPPU Institute of Higher Education, Doha P.O. Box 14868, Qatar"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-7831-2886","authenticated-orcid":false,"given":"Mujeeb Saif Mohsen","family":"Al-Absy","sequence":"additional","affiliation":[{"name":"Accounting and Financial Science Department, College of Administrative and Financial Science, Gulf University, Sanad 26489, Bahrain"}]}],"member":"1968","published-online":{"date-parts":[[2024,11,26]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"1161","DOI":"10.1086\/260506","article-title":"Expectations and Exchange Rate Dynamics","volume":"84","author":"Dornbusch","year":"1976","journal-title":"J. Political Econ."},{"key":"ref_2","first-page":"860","article-title":"Exchange Rates and the Current Account","volume":"70","author":"Dornbusch","year":"1980","journal-title":"Am. Econ. 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