How does COVID-19 affect firms' short-term financial pressure? Evidence from China

被引：7
|
作者：
Zhang, Huili [1 ]
Hu, Zhonghui [1 ]
机构：
[1] Beijing Normal Univ, Sch Business, Beijing, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2022年 / 29卷 / 09期
基金：
中国国家自然科学基金;
关键词：
COVID-19; short-term financial pressure; non-state-owned enterprises; banking relationship;
D O I：
10.1080/13504851.2021.1886234
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, we investigate how the COVID-19 pandemic affected the short-term financial pressure of listed companies in China. Using a difference-in-difference methodology, we find that firms hit by pandemic shocks suffered significant declines in liquidity levels and increased bankruptcy risk. Non-state-owned enterprises and firms without prior banking relationships suffered more significant liquidity pressure during this crisis than state-owned enterprises and firms with a prior banking relationship.
引用
收藏
页码：794 / 800
页数：7
相关论文
共 50 条
  • [1] Does COVID-19 Affect Household Financial Behaviors? Fresh Evidence From China
    Guo, Hua
    Zhang, Yang
    Peng, Yanling
    Luo, Tong
    Wang, Hong
    SAGE OPEN, 2022, 12 (03):
  • [2] How Does COVID-19 Affect Corporate Research and Development? Evidence from China
    Zhuang, Qinqin
    Luo, Weijie
    Li, Yupeng
    EMERGING MARKETS FINANCE AND TRADE, 2023, 59 (09) : 3011 - 3023
  • [3] How does financial pressure affect firms?
    Nickell, S
    Nicolitsas, D
    EUROPEAN ECONOMIC REVIEW, 1999, 43 (08) : 1435 - 1456
  • [4] How does the COVID-19 affect earnings management: Empirical evidence from China
    Yan, Huanmin
    Liu, Zhenyu
    Wang, Haoyu
    Zhang, Xuehua
    Zheng, Xilei
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2022, 63
  • [5] Does judicial reform affect firms' short-term debt for long-term use? Evidence from China
    Cheng, Tianqi
    APPLIED ECONOMICS, 2024, 56 (50) : 6070 - 6079
  • [6] How does COVID-19 affect workplace employee relations in China? Evidence based on a survey of firms from Guangdong province
    Sun, Zhongwei
    Zhang, Xuchuang
    Wu, Xiaofang
    EMPLOYEE RELATIONS, 2024, 46 (05) : 1024 - 1044
  • [7] How Does the COVID-19 Pandemic Affect Housing Market? Evidence from Shanghai, China
    Du, Xuejun
    Huang, Zhonghua
    Chen, Junhua
    JOURNAL OF REAL ESTATE RESEARCH, 2025, 47 (01) : 53 - 77
  • [8] Short-term effects of COVID-19 lockdown on foreign direct investment: Evidence from Ecuadorian firms
    Camino-Mogro, Segundo
    Armijos, Mary
    JOURNAL OF INTERNATIONAL DEVELOPMENT, 2022, 34 (04) : 715 - 736
  • [9] How Does COVID-19 Affect Traffic on Highway Network: Evidence from Yunnan Province, China
    Li, Qihui
    Bai, Qiang
    Hu, Aihui
    Yu, Zhoulin
    Yan, Shixiang
    JOURNAL OF ADVANCED TRANSPORTATION, 2022, 2022
  • [10] The short-term impacts of COVID-19 outbreak on carbon emissions: causal evidence from China
    Pan, Sitong
    APPLIED ECONOMICS LETTERS, 2025, 32 (02) : 263 - 269
12345