Related papers: Disaster Resilience and Asset Prices
Abrupt catastrophic events bring business risks into firms. The paper introduces the Great Lushan Earthquake in 2013 in China as an unexpected shock to explore the causal effects on public firms in both the long and short term. DID-PSM…
The rapid spread of the Coronavirus SARS-2 is a major challenge that led almost all governments worldwide to take drastic measures to respond to the tragedy. Chief among those measures is the massive lockdown of entire countries and cities,…
The COVID-19 pandemic has completely disrupted the operation of our societies. Its elusive transmission process, characterized by an unusually long incubation period, as well as a high contagion capacity, has forced many countries to take…
The novel coronavirus disease (COVID-19) pandemic has impacted every corner of earth, disrupting governments and leading to socioeconomic instability. This crisis has prompted questions surrounding how different sectors of society interact…
Design/methodology/approach We compared the awareness of 813 people in Wuhan city from January to March 2023 (Wuhan 2023) and 2,973 people in East and South China from February to May 2020 (China 2020) using responses to questionnaires…
The COVID-19 pandemic offers an unprecedented natural experiment providing insights into the emergence of collective behavioral changes of both exogenous (government mandated) and endogenous (spontaneous reaction to infection risks) origin.…
We uncover a new anomaly in asset pricing that is linked to the remuneration: the more a company spends on salaries and benefits per employee, the better its stock performs, on average. Moreover, the companies adopting similar remuneration…
An asset pricing model using long-run capital share growth risk has recently been found to successfully explain U.S. stock returns. Our paper adopts a recursive preference utility framework to derive an heterogeneous asset pricing model…
Adjustments to public health policy are common. This paper investigates the impact of COVID-19 policy ambiguity on specific groups' insurance consumption. The results show that sensitive groups' willingness to pay (WTP) for insurance is…
Traditional social organizations such as those for the management of healthcare and civil defence are the result of designs and realizations that matched well with an operational context considerably different from the one we are…
Background: Without proven effect treatments and vaccines, Social Distancing is the key protection factor against COVID-19. Social distancing alone should have been enough to protect again the virus, yet things have gone very differently,…
This study explored the variability in Aggregate Personal Income (PI) across 13 major industrial sectors in the US during the COVID-19 pandemic. Utilizing time-series data from 2010 Q1 to 2019 Q4, we employed Autoregressive Integrated…
While many organizations have shifted to working remotely during the COVID-19 pandemic, how the remote workforce and the remote teams are influenced by and would respond to this and future shocks remain largely unknown. Software developers…
Social distancing is widely acknowledged as an effective public health policy combating the novel coronavirus. But extreme social distancing has costs and it is not clear how much social distancing is needed to achieve public health…
This study analyses the duration dependence of events that trigger volatility persistence in stock markets. Such events, in our context, are monthly spells of contiguous price decline or negative returns for the S&P500 stock market index…
The attack intensity of distributed denial of service (DDoS) attacks is increasing every year. Botnets based on internet of things (IOT) devices are now being used to conduct DDoS attacks. The estimation of direct and indirect economic…
Lately, concepts such as lockdown, quarantine, and social distancing have become very relevant since they have been associated with essential measures in the prevention and mitigation of COVID-19. While some conclusions about the…
We identify a new type of risk, common firm-level investor fears, from commonalities within the cross-sectional distribution of individual stock options. We define firm-level fears that link with upward price movements as good fears, and…
Public transport is one of the most disrupted sectors of the COVID-19 pandemic with reported ridership drops up to 90% in majorly affected countries. As many government authorities strive to partially resume activities, public transport…
We consider an optimal control problem of a property insurance company with proportional reinsurance strategy. The insurance business brings in catastrophe risk, such as earthquake and flood. The catastrophe risk could be partly reduced by…