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10.1016/j.frl.2020.101808

http://scihub22266oqcxt.onion/10.1016/j.frl.2020.101808
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33100927!7574684!33100927
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suck abstract from ncbi


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pmid33100927      Financ+Res+Lett 2021 ; 38 (ä): 101808
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  • The impact of operating flexibility on firms performance during the COVID-19 outbreak: Evidence from China #MMPMID33100927
  • Liu H; Yi X; Yin L
  • Financ Res Lett 2021[Jan]; 38 (ä): 101808 PMID33100927show ga
  • This paper investigates the effect of firm-level operating flexibility on stock performance during the COVID-19 outbreak in China. We find that firm-level operating flexibility is significantly positively correlated with the cumulative abnormal stock returns that occurred during the event window, and this positive relation is more pronounced in firms in the provinces most affected by the epidemic. This positive relation is also more obvious in firms that have relatively fewer fixed assets. Therefore, our results provide direct empirical evidence that the real options embedded in operating flexibility played an important role during the COVID-19 outbreak.
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