COVID-19期间美国和中国企业的脆弱性:一种机器学习方法

Q1 Economics, Econometrics and Finance Journal of Economic Asymmetries Pub Date : 2023-06-01 DOI:10.1016/j.jeca.2023.e00302
Muhammad Asif Khan , Juan E.Trinidad Segovia , M.Ishaq Bhatti , Asif Kabir
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引用次数: 4

摘要

新冠肺炎对股市动态和其他宏观经济指标的影响已得到广泛研究。然而,它如何影响企业脆弱性的问题却很少受到关注。本文旨在利用2020年1月至2021年12月的每日数据,研究新冠肺炎对美国和中国企业脆弱性的影响,以填补这一空白。协整分析的实证结果表明,新冠肺炎在美国长期和中国短期内显著恶化了企业脆弱性。此外,非线性结果证明了美国的长期不对称性和中国的短期不对称性,证实了错误预测的准确性,并表明美国企业更容易受到新冠肺炎引发的风险的影响。新冠肺炎可能影响企业脆弱性的渠道包括消费者行为和需求的变化、供应链的中断、金融压力、政府政策和法规,以及竞争格局的变化。这项研究揭示了新冠肺炎疫情对美国和中国企业脆弱性的影响,揭示了可能需要政府更多参与的监管影响,强调风险管理和应急计划的管理影响,以及社会影响,突出了优先考虑利益相关者福利和拥抱数字化转型的重要性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

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Corporate vulnerability in the US and China during COVID-19: A machine learning approach

The impact of COVID-19 on stock market dynamics and other macroeconomic indicators has been extensively researched. However, the question of how it affects corporate vulnerability has received less attention. This article aims to fill this gap by examining the implications of COVID-19 on corporate vulnerability in the United States (US) and China, using daily data from January 2020 to December 2021. The empirical results of cointegration analysis demonstrate that COVID-19 considerably worsen corporate vulnerabilities in the long-term in the US and in the short-term in China. Additionally, non-linear results demonstrate long-run asymmetries in the US and short-run asymmetries in China, confirming the accuracy of error prediction and suggesting that US corporations are more exposed to COVID-19-induced risks. The channels through which COVID-19 may affect corporate vulnerability include changes in consumer behavior and demand, disruptions in supply chains, financial stress, government policies and regulations, and changes in the competitive landscape. This study sheds light on the effects of the COVID-19 pandemic on corporate vulnerability in the US and China, revealing regulatory implications that may necessitate greater government involvement, managerial implications that emphasize risk management and contingency planning, and social implications that highlight the importance of prioritizing stakeholder welfare and embracing digital transformation.

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来源期刊
Journal of Economic Asymmetries
Journal of Economic Asymmetries Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
4.80
自引率
0.00%
发文量
42
审稿时长
50 days
期刊最新文献
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