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The Impact of COVID-19 on Cash Holdings

In: Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023)

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  • Qi Chen

    (Xiamen University, School of Management)

Abstract

This study collected financial panel data of 42 food manufacturing firms from 2014–2022, and finally selected 15 to explore the changes in the impact of each risk on the cash holdings of firms before and after the COVID-19. The risks include market volatility (VaR), market share (MS), inventory turnover ratio (IT), and firm operations (Z-score). The results showed that the epidemic led to significant increase of the firms’ cash holdings; In addition to market volatility (VaR), other risks have significant impacts on cash holdings; After the epidemic, the effect of market share (MS) expansion on the decrease of cash holdings was weakened, and the improvement of firm operations (Z-score) changed from significant increase in cash holdings to insignificant.

Suggested Citation

  • Qi Chen, 2023. "The Impact of COVID-19 on Cash Holdings," Advances in Economics, Business and Management Research, in: Gaikar Vilas & Jing Gao & Xi Chen (ed.), Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023), pages 321-326, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-224-8_40
    DOI: 10.2991/978-94-6463-224-8_40
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