Wenzhi Ding

TL;DR: The pandemic-induced drop in stock returns was milder among firms with stronger pre-2020 finances, and firms controlled by families, large corporations, and governments performed better, and those with greater ownership by hedge funds and other asset management companies performed worse.

TL;DR: In this article, the authors examined how counties responded to both local COVID-19 cases and statewide shelter-in-place orders and found that social distancing increases more in response to cases and official orders in counties where individuals historically engaged less in community activities and demonstrated greater willingness to incur individual costs to contribute to social objectives.

TL;DR: In this paper, the authors evaluate the connection between corporate characteristics and the reaction of stock returns to COVID-19 cases using data on over 6,700 firms across 61 economies and find that the pandemic-induced drop in stock returns was milder among firms with stronger pre-2020 finances (more cash and undrawn credit, less total and short-term debt, and larger profits).

TL;DR: In this paper, the authors examined how counties responded to both local COVID-19 cases and statewide shelter-in-place orders and found that social distancing increases more in response to cases and official orders in counties where individuals historically engaged less in community activities and demonstrated greater willingness to incur individual costs to contribute to social objectives.