Ding, Wenzhi; Levine, Ross; Lin, Chen; Xie, Wensi - 2021
Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock prices was milder among firms with (a) stronger pre-2020...