Das, Nupur Moni Rout, Bhabani Sankar and Bal, Gnyana Ranjan creator text Management and Labour Studies monographic eng

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50(3), Aug, 2025: p.337-356 The present study aims to examine the downside risk, volatility persistence, market connectedness and hedging strategies in Brazil, Russia, India, China and South Africa (BRICS) markets during the COVID-19 period, comparing these factors with the Asian Financial Crisis and Global Financial Crisis. Using value-at-risk, dynamic conditional correlation generalized autoregressive conditional heteroskedasticity and the Diebold–Yilmaz Spillover Index, the study addresses key research objectives. It is observed that volatility created persists longer, and market connectivity increases during crises. Notably, Russia and Brazil are observed to be the net spreaders of volatility, while India, China and South Africa demonstrate opposite trends. Moreover, very limited diversification benefits exist in the bloc.- Reproduced https://journals.sagepub.com/doi/full/10.1177/0258042X251320797 Covid-19, Stock market, Market, risk, Value at risk, Volatility spillover, Hedging Management and Labour Studies 251022