financial market and the government. Building on a premise that pandemics are classified as catastrophic risks by the insurance …

for their credit activities. The Covid-19 epidemic is still ongoing. In 2021, 30 banks listed bad debts of more than 113 …

testing capacity and functional labs to identify suspected coronavirus cases globally. …

Are pandemics systemically important to modern-day financial markets? This study uses the COVID-19 pandemic as a … natural experiment for testing how large-scale pandemics affect the financial markets. Using hand-collected data at the firm … level, I find that managers systematically underestimated their exposure to pandemics in their SEC-mandated risk factors …