Does real flexibility help firms navigate the COVID-19 pandemic?

Building on the investment-based asset pricing framework, we show that firms' ability to timely scale down their operations reduces the sensitivity of their equity value to large adverse productivity shocks. Using U.S. data in the times of the COVID-19 pandemic, we provide empirical evidence co...

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Detalles Bibliográficos
Autores principales: Ho, Tuan, Kim, Kirak, Li, Yang, Xu, Fangming
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Author(s). Published by Elsevier Ltd on behalf of British Accounting Association. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9691280/
http://dx.doi.org/10.1016/j.bar.2022.101148

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