Ren, Xiaohang; Cao, Yuxuan; Liu, Pei; Han, Dun - 2023
Using 2,663 Chinese A-share listed companies from 2003 to 2019, we examine the relationship between geopolitical risk (GPR) and firm’s idiosyncratic volatility and attempt to explain the mechanism. The main findings are presented as follows. First, GPR can explain the change of firms’...