Which Firm-specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID-19 Pandemic?

Hao Xiong, Zuofeng Wu, Fei Hou and Jun Zhang

Emerging Markets Finance and Trade, 2020, vol. 56, issue 10, 2231-2242

Abstract: This paper investigates market reaction to the novel corona virus (COVID-19) pandemic. Using a sample of Chinese listed firms, we find that market reaction to the COVID-19 outbreak is more intense in firms within the industries that are vulnerable to the virus, and those with high institutional investors. Furthermore, firms with larger scale, better profitability and growth opportunity, higher combined leverage, and less fixed assets experience less adverse impact of the COVID-19 outbreak than other firms.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (49)

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2020.1787151 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:56:y:2020:i:10:p:2231-2242

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2020.1787151

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().