Browse
Submit Data
Databases
API
Help

Dataset Information

54 Views

0 Connections

0 Citations

0 Reanalyses

0 Downloads

Omics score: 0

Financial contagion during COVID-19 crisis.

ABSTRACT: This study examines how financial contagion occurs through financial and nonfinancial firms between China and G7 countries during the COVID-19 period. The empirical results show that listed firms across these countries, financial and non-financial firms alike, experience significant increase in conditional correlations between their stock returns. However, the magnitude of increase in these correlations is considerably higher for financial firms during the COVID-19 outbreak, indicating the importance of their role in financial contagion transmission. They also show that optimal hedge ratios increase significantly in most cases, implying higher hedging costs during the COVID-19 period.

SUBMITTER: Akhtaruzzaman M

PROVIDER: S-EPMC7245292 | biostudies-literature | 2021 Jan

REPOSITORIES: biostudies-literature

ACCESS DATA

Json Xml

Publications

Financial contagion during COVID-19 crisis.

Akhtaruzzaman Md M Boubaker Sabri S Sensoy Ahmet A

Finance research letters 20200523

This study examines how financial contagion occurs through financial and nonfinancial firms between China and G7 countries during the COVID-19 period. The empirical results show that listed firms across these countries, financial and non-financial firms alike, experience significant increase in conditional correlations between their stock returns. However, the magnitude of increase in these correlations is considerably higher for financial firms during the COVID-19 outbreak, indicating the impor ...[more]

PMID: 32837363

Similar Datasets

The blame game: COVID-19 crisis and financial performance

Project description:This research investigates the manager’s impression management during the COVID-19 pandemic by gauging the agency theory framework. We examine how managers blame COVID-19 when the firms experience declining performance to retain their reputation. Overall, our results indicate that those firms with declining performance will blame COVID-19 compared to those with expected performance. It also indicates that the odds of COVID-19 appearing in the financial report will be higher in the declining performance firms. Our analysis confirms the impression management theory and agency theory by suggesting that, under declining performance, managers blame COVID-19 as the justifications to alter the attention from their incapability to the black swan event. Supplementary Information The online version contains supplementary material available at 10.1007/s43546-022-00352-w.

| S-EPMC9569173 | biostudies-literature

The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China.

Project description:We examine the role of ESG performance during market-wide financial crisis, triggered in response to the COVID-19 global pandemic. The unique circumstances create an inimitable opportunity to question if investors interpret ESG performance as a signal of future stock performance and/or risk mitigation. Using a novel dataset covering China's CSI300 constituents, we show (i) high-ESG portfolios generally outperform low-ESG portfolios (ii) ESG performance mitigates financial risk during financial crisis and (iii) the role of ESG performance is attenuated in 'normal' times, confirming its incremental importance during crisis. We phrase the results in the context of ESG investment practices.

| S-EPMC7425769 | biostudies-literature

The association of COVID-19 nexus on China's economy: A financial crisis or a health crisis?

Project description:This paper analyses the interaction between the novel coronavirus pandemic (COVID-19), unemployment rate, stock market, consumer confidence index (CCI), and economic policy uncertainty (EPU) index in China within a time-frequency framework. We compare the changes in economic indicators during the global financial crisis (GFC) and study the different impacts of the two events on China's economy. An unprecedented impact of COVID-19 shocks on the unemployment rate, CCI, EPU index, and stock market volatility over the low frequency bands is uncovered by applying the coherence wavelet method to China monthly data. The COVID-19 effect on the stock market volatility and the EPU index is substantially higher than on the unemployment rate and the CCI. On the contrary, the GFC's impact on the unemployment rate is much greater than that on the EPU index and CCI. Additionally, the impact of the GFC on the economy is more cyclical in the long-term, while the COVID-19 pandemic is a short-term shock with a relatively short oscillation cycle. This study concludes that the economic impact of COVID-19 will not spread into a financial crisis for China and believe that the COVID-19 pandemic is more of a health event than an economic crisis for Chinese economy.

| S-EPMC9451089 | biostudies-literature

Does working capital management improve financial performance in China's agri-food sector during COVID-19? A comparison with the 2008 financial crisis.

Project description:The objective of this study is to explore the impact of working capital management on firms' financial performance in China's agri-food sector from 2006 to 2021. In addition, we analyze whether this impact is the same during the 2008 financial crisis and the 2020 COVID-19 crisis. Working capital management is measured by working capital investment policy (measured by current assets to total assets ratio), working capital financing policy (measured by current liabilities to total assets ratio), cash conversion cycle, and net working capital ratio. The results reveal that current assets to total assets ratio and net working capital ratio positively influence financial performance measured through return on assets (ROA), while current liabilities to total assets ratio and cash conversion cycle negatively influence ROA. We also find that the relationship between working capital management and financial performance is more affected during COVID-19 than in the 2008 financial crisis. The findings might provide important implications for company managers to make optimal working capital management practices, depending on the economic environment.

| S-EPMC10990196 | biostudies-literature

Communication, collaboration and contagion: "Virtualisation" of anatomy during COVID-19.

Project description:COVID-19 has generated a global need for technologies that enable communication, collaboration, education and scientific discourse whilst maintaining physical distance. University closures due to COVID-19 and physical distancing measures disrupt academic activities that previously occurred face-to-face. Restrictions placed on universities due to COVID-19 have precluded most conventional forms of education, assessment, research and scientific discourse. Anatomists now require valid, robust and easy-to-use communication tools to facilitate remote teaching, learning and research. Recent advances in communication, video conferencing and digital technologies may facilitate continuity of teaching and research activities. Examples include highly-interactive video conferencing technology, collaborative tools, social media and networking platforms. In this narrative review, we examine the utility of these technologies in supporting effective communication and professional activities of anatomists during COVID-19 and after.

| S-EPMC7404681 | biostudies-literature

Agritourism resilience during the COVID-19 crisis.

Project description:Resilience is critical to the sustainability of the tourism industry, which was made particularly evident during the COVID-19 crisis. COVID-19 impacted all sectors of the tourism industry revealing previously unknown strengths and weaknesses. Through a longitudinal qualitative approach, we identified the evolving challenges and coping strategies of agritourism operations under the COVID-19 crisis in North Carolina, USA. The results indicate that agritourism operations not only withstood the health crisis but also advanced the management of their operation and customer satisfaction through diversification and reorganization strategies. We use chaos theory to show how agritourism operations took advantage of the context of uncertainty to employ practices that ultimately showcased their resilience.

| S-EPMC9902294 | biostudies-literature

Short-selling restrictions and financial stability in Europe: Evidence from the Covid-19 crisis

Project description:In March 2020, six European countries imposed temporary short-selling bans to prevent further stock price declines, to reduce volatility, and to ensure financial stability during the Covid-19 pandemic, whereas other countries abstained from implementing these restrictions. We examine the effects of these regulatory interventions on stock returns and market quality for major European countries with and without bans. Our results reveal that restricting short selling did not stabilize stock prices but adversely affected market liquidity, as reflected in wider bid-ask spreads and lower turnover. In addition, smaller stock markets and smaller firms suffered more from the deterioration in market quality. Using logit regressions, we investigate the determinants for the probability that a country would impose short-selling restrictions. The results suggest that countries with weaker economies, lower fiscal capacity, less financial development, and stricter lockdown measures were more likely to adopt a ban. Overall, short-selling bans during the Covid-19 crisis negatively affected market quality and consequently regulators in general should abstain from implementing such restrictions in the future.

| S-EPMC9297707 | biostudies-literature

COVID-19's disasters are perilous than Global Financial Crisis: A rumor or fact?

Project description:This investigation employed the Asymmetric Power GARCH model and found that COVID-19 substantially harms the US and Japan's market returns. Moreover, COVID-19 has influenced the variance of the US, Germany, and Italy's stock markets more than the Global Financial Crises (GFC). However, GFC indicated a more significant impact on the financial volatility of the Nikkei 225 index and SSEC than COVID-19. The study confirmed the leverage effect for the S&P 500, Nasdaq Composite Index, DAX 30, Nikkei 225, FTSE MIB, and SSEC. The analysis authenticated that the health crisis that befell due to COVID-19 have imperatively originated the financial crisis globally; however, the Asian markets still make available better prospects for portfolio optimization.

| S-EPMC7318935 | biostudies-literature

Surgery crisis simulation during the COVID-19 pandemic.

Project description:SummaryCOVID-19 puts health care providers at risk for infection with SARS-CoV-2. Personal protective equipment (PPE) can reduce viral transmission if used properly. We used simulation of an intraoperative crisis involving an infectious outbreak to assess PPE adherence and confidence in PPE use. Simulation of an intraoperative crisis with a patient with COVID-19 revealed gaps in PPE adherence; however, simulation training successfully increased confidence in PPE use and received positive feedback.

| S-EPMC8900741 | biostudies-literature

Corporate Bond Liquidity during the COVID-19 Crisis

Project description:Abstract We study liquidity conditions in the corporate bond market during the COVID-19

| S-EPMC8241420 | biostudies-literature