ABSTRACT
Motivated from the shortage of the existing research studies on impacts of dangerously contagious diseases on firms' financial performance, this study sheds light on the impacts of Coronavirus (Covid-19) outbreak on financial performance upon on the quarterly data of 126 Chinese listed firms across 16 industries. Overall, the Covid-19 outbreak reduced Chinese listed firms' financial performance proxied by the revenue growth rate, ROA, ROE, and asset turnover. This outbreak's negative effects on Chinese firms' profitability were much smaller than that on their revenue growth rates. While this outbreak's negative effects on financial performance of Chinese listed firms were bigger for those that were seriously affected by this pandemic like airlines, travel, and entertainment (ATE), this pandemic's effects were positive for the medicine industry. In the meanwhile, Chinese listed firms that located in high-risk regions suffered a bigger financial loss during the outbreak, and especially there was a strong Hubei effect. The corporate culture and CSR moderated the inverse relationship between this outbreak and Chinese firms' financial performance. Findings of this study contribute to enrich the existing literature on impacts of the Covid-19 outbreak on firms' financial performance worldwide and suggest helpful practical and theoretical implications.
ABSTRACT
The Covid-19 pandemic affected the tourism industry's supply chain and reflected its performance and financial market. This paper aims to evaluate the performance of selected tourism-related companies listed in the Indian stock market. This study evaluates the performance of companies share prices and their business performance in post covid perspective. No studies have been conducted before on the performance evaluation of tourism-related companies listed in the Indian Stock Market from a post covid perspective. Fundamental data analysis for the reports from 2018 to 2022 and the share price charts from 2019 to 2022 was undertaken by twenty-five companies in four categorised sectors: Travel Agencies, hotels and resorts, Airlines, and Amusement parks. This study unveils that companies are underperforming in post covid and at the same time, they performed well in the share market after a negative correction due to covid-19. Airline companies are the most affected and least performed in the stock market by their share price growth. The study result helps investors and people interested in the share market assess the influence of a pandemic situation and to help in decision-making related to investment in the tourism and hospitality industry.
ABSTRACT
During Covid 19 pandemic, Public Sector Banks (PSBs) experience the high and increasing level of gross non performing assets. This is as high as 14 per cent which is matter of concern to all stakeholders. Consequently, these banks to witness high provisioning, low capital base and dismal credit growth. To arrest the trends in stressed assets, existing recovery channels including Insolvency Bankruptcy Code have not produced the desired results. Hence, the Government has recently taken a bold decision to set up a Bad Bank and provide the sovereign guarantee to security receipts issued by the Bad Bank upon purchase of stressed assets from PSBs. The Bad Bank aims at buying stressed assets, restructure them successfully and, thereafter, to sell the same to investors which would facilitate the PSBs to clean their balance sheet and strengthen the capital base. While there is enough business potential for the Bad Bank in the near future, its success will depend on purchase price of assets transferred, expertise in management of distressed assets, business model and presence of a conducive environment to operate. It is hoped that, during the post pandemic, the Bad Bank would prove to be the best option for revival of stressed assets and enable PSBs to lend optimally for productive purposes. Towards this end, before the Bad Bank starts functioning, there is a dire need to create awareness of the same by understanding its background, organization structure, business model and emerging challenges.
ABSTRACT
COVID-19 has shocked every system in the U.S., including transportation. In the first months of the pandemic, driving and transit use fell far below normal levels. Yet people still need to travel for essential purposes like medical appointments, buying groceries, and-for those who cannot work from home-to work. For some, the pandemic may exacerbate extant travel challenges as transit agencies reduce service hours and frequency. As travelers reevaluate modal options, it remains unclear how one mode-ride-hailing-fits into the transportation landscape during COVID-19. In particular, how does the number of ride-hail trips vary across neighborhood characteristics before versus during the pandemic? And how do patterns of essential trips pre-pandemic compare with those during COVID-19? To answer these questions, we analyzed aggregated Uber trip data before and during the first two months of the COVID-19 pandemic across four regions in California. We find that during these first months, ride-hail trips fell at levels commensurate with transit (82%), while trips serving identified essential destinations fell by less (62%). Changes in ride-hail use were unevenly distributed across neighborhoods, with higher-income areas and those with more transit commuters and higher shares of zero-car households showing steeper declines in the number of trips made during the pandemic. Conversely, neighborhoods with more older (aged 45+) residents, and a greater proportion of Black, Hispanic/Latinx, and Asian residents still appear to rely more on ride-hail during the pandemic compared with other neighborhoods. These findings further underscore the need for cities to invest in robust and redundant transportation systems to create a resilient mobility network.