The Impact of COVID-19 on Cash Holdings

Based on Evidence from Chinese Food Manufacturing Firms

DOI

10.2991/978-94-6463-224-8_40How to use a DOI?

Keywords

COVID-19; cash holdings; risks; panel regression

Abstract

This study collected financial panel data of 42 food manufacturing firms from 2014–2022, and finally selected 15 to explore the changes in the impact of each risk on the cash holdings of firms before and after the COVID-19. The risks include market volatility (VaR), market share (MS), inventory turnover ratio (IT), and firm operations (Z-score). The results showed that the epidemic led to significant increase of the firms’ cash holdings; In addition to market volatility (VaR), other risks have significant impacts on cash holdings; After the epidemic, the effect of market share (MS) expansion on the decrease of cash holdings was weakened, and the improvement of firm operations (Z-score) changed from significant increase in cash holdings to insignificant.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Qi Chen
PY  - 2023
DA  - 2023/08/23
TI  - The Impact of COVID-19 on Cash Holdings
BT  - Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023)
PB  - Atlantis Press
SP  - 321
EP  - 326
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-224-8_40
DO  - 10.2991/978-94-6463-224-8_40
ID  - Chen2023
ER  -