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Infectious disease and corporate activities

Muhammad Tahir Suleman and Mona Yaghoubi

Economics Letters, 2022, vol. 212, issue C

Abstract: We investigate the effect of equity market volatility due to infectious disease on U.S. firms’ corporate activities from 1985 to 2020. Consistent with the theoretical framework, firms decrease their debt levels, debt maturity, corporate investments and dividend payout, and increase their cash holdings, research and development expenditure.

Keywords: Infectious disease equity market volatility; Corporate financing; Corporate investment; Dividend policy; Research and development expenditure (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:212:y:2022:i:c:s0165176522000179

DOI: 10.1016/j.econlet.2022.110302

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