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COVID-19 Pandemic and firm-level dynamics in the USA, UK, Europe, and Japan

Ahmad, Wasim, Kutan, Ali M., Chahal, Rishman Jot Kaur and Kattumuri, Ruth (2021) COVID-19 Pandemic and firm-level dynamics in the USA, UK, Europe, and Japan. International Review of Financial Analysis, 78. ISSN 1057-5219

[img] Text (Firm_level_paper (AK)_revised_IRFA) - Accepted Version
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Identification Number: 10.1016/j.irfa.2021.101888

Abstract

This paper examines the impact of the coronavirus pandemic during its first and second waves for the USA, UK, Europe, and Japan. We explore the firm-level dynamics and exhibit the impact of coronavirus events on large and small firms and firms' idiosyncratic risk. We find that the intensity of the impact of the coronavirus pandemic events is not uniform for firms. The Blank Swan events in March 2020 exhibit stronger impact the second wave till April 2021. The second wave analysis reveals the sign of recovery and receding effect of the pandemic. The idiosyncratic analysis shows the positive impact of the coronavirus and stringency measures on the idiosyncratic risk.

Item Type: Article
Official URL: https://www.sciencedirect.com/journal/internationa...
Additional Information: © 2021 Elsevier Inc
Divisions: India Observatory
Subjects: H Social Sciences > HV Social pathology. Social and public welfare. Criminology
R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
H Social Sciences > HD Industries. Land use. Labor
Date Deposited: 18 Oct 2021 08:54
Last Modified: 22 Nov 2021 10:18
URI: http://eprints.lse.ac.uk/id/eprint/112454

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