The power of clans: How social capital sheltered firms during the COVID-19 pandemic

Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firm...

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Detalles Bibliográficos
Autores principales: Liu, Linqing, Yang, Lisi, Yan, Kai
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10275770/
https://www.ncbi.nlm.nih.gov/pubmed/37362550
http://dx.doi.org/10.1016/j.econlet.2023.111224
Descripción
Sumario:Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firms from the shock. Our results frame social capital as a complementarity to formal institutions during crises.

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