The Disproportionate Impacts of Covid-19 on Private Investors During and After the Covid-19 Pandemic: A Mobile Trading App Analysis in South Korea

초록

Using unique mobile App usage data in South Korea during and after the major pandemic, we examined private investment behaviors to enhance understanding of the disproportionate impacts of Covid-19 by income level. Our empirical analysis showed that, as the pandemic progressed, those with higher incomes increased usage of bitcoin trading Apps, but those with lower incomes augmented employment of stock trading Apps. Study implications are valuable for trading agencies in implementation of digital strategies for private and retail investors.