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

被引：18
|
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
  • [21] The impact of the COVID-19 pandemic on the level and distribution of intangibles investment in the UK
    Harris, Richard
    Moffat, John
    APPLIED ECONOMICS LETTERS, 2022, 29 (13) : 1238 - 1242
  • [22] The performance of Islamic versus conventional stocks during the COVID-19 shock: Evidence from firm-level data
    Shear, Falik
    Ashraf, Badar Nadeem
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2022, 60
  • [23] The COVID-19 Pandemic and Families in Japan
    Shibusawa, Tazuko
    Ishii, Chikako
    Nakamura, Shinichi
    Tamura, Takeshi
    Watanabe, Toshiyuki
    AUSTRALIAN AND NEW ZEALAND JOURNAL OF FAMILY THERAPY, 2021, 42 (01) : 58 - 69
  • [24] Economic policy uncertainty, COVID-19 lockdown, and firm-level volatility: Evidence from China
    Yang, Jianlei
    Yang, Chunpeng
    PACIFIC-BASIN FINANCE JOURNAL, 2021, 68
  • [25] The Impact of the COVID-19 Pandemic on Firm Performance
    Shen, Huayu
    Fu, Mengyao
    Pan, Hongyu
    Yu, Zhongfu
    Chen, Yongquan
    EMERGING MARKETS FINANCE AND TRADE, 2020, 56 (10) : 2213 - 2230
  • [26] Firm-level characteristics and the impact of COVID-19: Examining the effects of foreign ownership and international trade
    Jordaan, Jacob A.
    WORLD ECONOMY, 2023, 46 (07) : 1967 - 1998
  • [27] The Transmission of Trade Shocks Across Countries: Firm-Level Evidence From the Covid-19 Crisis
    Benkovskis, Konstantins
    Merikull, Jaanika
    Proskute, Aurelija
    WORLD ECONOMY, 2025,
  • [28] HOW HAS THE COVID-19 PANDEMIC ACCELERATED E-COMMERCE IN RUSSIA: EVIDENCE FROM FIRM-LEVEL DATA WITH SPATIAL FACTORS
    Fedyunina, Anna A.
    Gorodnyi, Nikolay A.
    Simachev, Yuri V.
    Drapkin, Igor M.
    ECONOMY OF REGION, 2022, 18 (04) : 988 - 1002
  • [29] Trade Margins and Firm-Level Responses to Global Shocks: A Comparative Analysis of the 2008 Global Financial Crisis and COVID-19 Pandemic in Kenya
    Socrates, Majune Kraido
    Turkcan, Kemal
    WORLD ECONOMY, 2025,
  • [30] Loneliness in Europe before and during the COVID-19 pandemic
    Baarck, Julia
    d'Hombres, Beatrice
    Tintori, Guido
    HEALTH POLICY, 2022, 126 (11) : 1124 - 1129
12345