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Risk Measurement and Utility Analysis of Enterprises in Western China Issuing Epidemic Prevention and Control Bonds During COVID-19

In: INTERNET FINANCE AND DIGITAL ECONOMY Advances in Digital Economy and Data Analysis TechnologyThe 2nd International Conference on Internet Finance and Digital Economy, Kuala Lumpur, Malaysia, 19 – 21 August 2022

Author

Listed:
  • Zinan Hu
  • Ruicheng Yang

Abstract

Usually, companies with poor financial conditions at the time of an epidemic issue bonds, and it is particularly important to reasonably measure the various risks associated with the issue of bonds. This paper uses the Conditional Cost at Risk (CCaR) risk measurement technology based on the Conditional Value at Risk (CVaR) idea to measure the cost risk of epidemic prevention and control bonds issued by enterprises in the western region during the epidemic. We design a Conditional Payment at Risk (CPaR) risk measurement model to measure the liquidity risk brought by the issuance of epidemic prevention and control bonds to enterprises. We also analyze the effectiveness of epidemic prevention and control bonds in the western region based on different bonds and come up with an accurate evaluation. By comparing the calculation results, it can be analyzed that the overall level of financing utility of anti-epidemic bonds issued by non-government financed enterprises in the western region is good, both in terms of the market risk of bonds and the cash liquidity risk faced by enterprises.

Suggested Citation

  • Zinan Hu & Ruicheng Yang, 2023. "Risk Measurement and Utility Analysis of Enterprises in Western China Issuing Epidemic Prevention and Control Bonds During COVID-19," World Scientific Book Chapters, in: Faruk Balli (ed.), INTERNET FINANCE AND DIGITAL ECONOMY Advances in Digital Economy and Data Analysis TechnologyThe 2nd International Conference on Internet Finance and , chapter 14, pages 173-199, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811267505_0014
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    More about this item

    Keywords

    Internet Economy; Online Finance; Financial Engineering; Big Data; Blockchain; Supply Chain; E-commerce;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G2 - Financial Economics - - Financial Institutions and Services

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