This study investigates the impact of COVID-19 crisis on corporate investment and financing policies. Using a difference-in-difference approach, I find while firms suffer from a real negative shock from the pandemic on average, firms with an abundant cash reserve prior to the crisis outperform...

This research investigates Brazil's cooperative health plan operators (CHPOs) from the perspective of continuity in terms of liquidity ratios. The principle of continuity presupposes the going concern basis of the entity where liquidity is a critical issue. A detailed study of CHPO's financial...

The COVID-19 pandemic has resulted in extreme uncertainty in the future earnings of many firms. In this paper, we examine how firms’ exposure to the pandemic affects their guidance withdrawals. Almost half the firms in our sample withdraw their management earnings guidance instead of...

We investigate the impacts of new COVID-19 infections on stock returns within China’s unique zero-COVID policy framework. We document a remarkable negative pattern: a COVID-19 outbreak within a city adversely affects the performance of local firms in a nonlinear fashion. This effect...

We show that firms exposed to the H1N1 and COVID-19 pandemics curtail trade receivable days for their clients but also face shorter payment periods for their own trade payables. Moreover, firms with lower financial flexibility experience a larger decrease in trade credits; however, firms with...

The impact of the COVID-19 Pandemic has affected the whole of human life, including the world capital market and all its problems. COVID-19 has influenced trading patterns in the capital market, both in terms of trade rules that are superstructure and capital market infrastructure itself....

Motivated by a recognition of the increased vulnerability of the banking sector to the COVID-19 pandemic, we examine market-based systemic risk and connectedness in the banking sector of Gulf Cooperation Council member countries, which include Bahrain, Kuwait, the Kingdom of Saudi Arabia (KSA),...

While operating side-by-side with conventional banks, the systemic risk profile of Islamic banks could be different due to their unique business model. Using a sample of ten countries with dual-banking systems, where the Islamic banking sector is considered systemically important, this paper...

The debate over how firm stakeholder engagement is tied to preserving shareholder wealth has received growing attention in recent years, especially in the wake of the COVID-19 crisis. Against this backdrop, we examine the relation between corporate social responsibility (CSR) and stock market...