COVID-19 Pandemic and firm-level dynamics in the USA, UK, Europe, and Japan

被引：15
|
作者：
Ahmad, Wasim [1 ,2 ]
Kutan, Ali M. [3 ]
Chahal, Rishman Jot Kaur [4 ]
Kattumuri, Ruth [2 ]
机构：
[1] Indian Inst Technol Kanpur, Dept Econ Sci, Kanpur, Uttar Pradesh, India
[2] London Sch Econ & Polit Sci LSE, LSE India Observ, London, England
[3] Southern Illinois Univ, Dept Econ & Finance, Edwardsville, IL USA
[4] Indian Inst Technol Roorkee, Dept Humanities & Social Sci, Roorkee 247667, Uttarakhand, India
来源：
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2021年 / 78卷
关键词：
Stock returns; Event study; COVID-19; Structural break; Idiosyncratic risk; RISK; EVENTS;
D O I：
10.1016/j.irfa.2021.101888
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the impact of the coronavirus pandemic during its first and second waves for the USA, UK, Europe, and Japan. We explore the firm-level dynamics and exhibit the impact of coronavirus events on large and small firms and firms' idiosyncratic risk. We find that the intensity of the impact of the coronavirus pandemic events is not uniform for firms. The Blank Swan events in March 2020 exhibit stronger impact the second wave till April 2021. The second wave analysis reveals the sign of recovery and receding effect of the pandemic. The idiosyncratic analysis shows the positive impact of the coronavirus and stringency measures on the idiosyncratic risk.
引用
收藏
页数：12
相关论文
共 50 条
  • [1] Firm-level heterogeneity in the impact of the COVID-19 pandemic
    Fernandez-Cerezo, Alejandro
    Gonzalez, Beatriz
    Izquierdo Peinado, Mario
    Moral-Benito, Enrique
    APPLIED ECONOMICS, 2023, 55 (42) : 4946 - 4974
  • [2] Financing constraints and firm-level responses to the COVID-19 pandemic: International evidence
    Khan, Safi Ullah
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2022, 59
  • [3] Firm-level short selling and the local COVID-19 pandemic: Evidence from China
    He, Jingbin
    Ma, Xinru
    Wei, Qu
    ECONOMIC MODELLING, 2022, 113
  • [4] COVID-19 Pandemic and Firm-level Cash Holding-Moderating Effect of Goodwill and Goodwill Impairment
    Qin, Xiuhong
    Huang, Guoliang
    Shen, Huayu
    Fu, Mengyao
    EMERGING MARKETS FINANCE AND TRADE, 2020, 56 (10) : 2243 - 2258
  • [5] Pandemic or panic? A firm-level study on the psychological and industrial impacts of COVID-19 on the Chinese stock market
    Qiuyun Wang
    Lu Liu
    Financial Innovation, 8
  • [6] Pandemic or panic? A firm-level study on the psychological and industrial impacts of COVID-19 on the Chinese stock market
    Wang, Qiuyun
    Liu, Lu
    FINANCIAL INNOVATION, 2022, 8 (01)
  • [7] Impacts of Covid-19 on Norwegian salmon exports: A firm-level analysis
    Straume, Hans-Martin
    Asche, Frank
    Oglend, Atle
    Abrahamsen, Eirik B.
    Birkenbach, Anna M.
    Langguth, Johannes
    Lanquepin, Guillaume
    Roll, Kristin H.
    AQUACULTURE, 2022, 561
  • [8] Factors affecting firm-level job cuts during the COVID-19 pandemic: A cross-country evidence
    Sarker, Bibhuti
    INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, 2024,
  • [9] Advanced digitalisation and resilience during the COVID-19 pandemic: firm-level evidence from developing and emerging economies
    Calza, Elisa
    Lavopa, Alejandro
    Zagato, Ligia
    INDUSTRY AND INNOVATION, 2023, 30 (07) : 864 - 894
  • [10] Firm-level business uncertainty and the predictability of the aggregate US stock market volatility during the COVID-19 pandemic
    Demirer, Riza
    Gupta, Rangan
    Salisu, Afees A.
    van Eyden, Renee
    QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 2023, 88 : 295 - 302
12345