ArticleJournal of Asian economics2021
COVID-19 impact on firm investment-Evidence from Chinese publicly listed firms.
Article in Journal of Asian economics, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 10 papers.
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
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Who cites it
10 citing papers in PubMed.
- Article
- Review
- Are female directors more employee-friendly? Board gender diversity and employee benefits: evidence from China.Frontiers in psychology · 2024Article
- Impact of COVID-19 on China's business and economic conditions: the importance of quantile asymmetries.Environmental science and pollution research international · 2023Article
- Corporate Sustainability Development Strategy and Corporate Environmental Governance-The Moderating Role of Corporate Environmental Investments.International journal of environmental research and public health · 2023Article
- Testing policy effectiveness during COVID-19: An NK-DSGE analysis.Journal of Asian economics · 2023Article
- Learning from inbound foreign acquisitions for outbound expansion by emerging market MNEs.Journal of international business studies · 2022Article
- Effect of COVID-19 lockdowns on city-center and suburban housing markets: Evidence from Hangzhou, China.Journal of Asian economics · 2022Article
- Sleeplessness in COVID-19 pandemic: Lockdown and anxiety.Journal of Asian economics · 2022Article
- Corporate environmental governance scheme and investment efficiency over the course of COVID-19.Finance research letters · 2022Article
Corrections and comments
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Authors and funding
4 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
The COVID-19 outbreak had a significant impact on business cash flows and investment activities. This paper examined the COVID-19 impact on Chinese business investment in 3326 A-share listed quarterly financial reports, from which it was found that the negative relationship was more pronounced in the large, eastern Chinese state-owned firms. Using a propensity score matching method and difference-in-differences estimation, corporate financial flexibility was also examined, with the results indicating that high cash flexibility provided a buffer that allowed firms to better deal with adverse external shocks as the firms that had high cash flexibility were able to significantly increase their investments after the COVID-19 outbreak. Various robustness tests were conducted, all of which verified the robustness of the results. Overall, the empirical results provided evidence that the COVID-19 pandemic in China had a negative impact on Chinese listed firms, and verified the vital role of flexible financial reserves for firm survival and development during crises.
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