新冠肺炎疫情对上市企业经营绩效的影响——基于中美上市公司的比较  

The Impact of COVID-19 Epidemic on Business Performance:Based on the Comparison between Chinese and American Listed Companies

作　　者：刘璐[1] 王小涵 LIU Lu;WANG Xiaohan

机构地区：[1]东北财经大学金融学院,大连116025

出　　处：《上海商学院学报》2022年第4期51-66,共16页Business Economic Review

基　　金：国家社会科学基金项目“保险公司过度风险承担与系统性风险跨市场传染研究”(17BJY204);中国保险学会2022年度课题“重大公共卫生事件背景下企业营业中断风险评估与保险解决机制研究”(ISCKT2022-N-1-13)。

摘　　要：2020年初暴发的新冠肺炎疫情因新冠病毒潜伏期长、传染性强等特点,对企业的经营绩效造成严重冲击。以2018—2020年国内中证500指数与美国标普500指数所涵盖的上市公司为研究对象,对比研究突发的新冠肺炎疫情对上市企业经营绩效的影响及其作用路径。结果表明:疫情通过降低企业的资产利用效率、增加综合成本率而对经营绩效产生负面影响;国内高效的防疫政策助推了企业经营绩效的改善,国内企业所受疫情的冲击远小于美国;此外,企业受疫情影响程度还与其所处行业、产权性质、所在地区疫情防控程度密切相关。本研究将企业经营绩效影响因素的分析拓展至公共卫生领域,不仅揭示了公共卫生事件对企业经营绩效影响的作用路径,还可为疫情期间改善企业的经营绩效提供参考。The COVID-19 Epidemic which broke out in early 2020 caused a serious impact on the business performance of companies due to the long incubation period and strong infectivity of the coronavirus.This paper takes the listed companies in the CSI 500 Index and the US S&P 500 Index from 2018 to 2020 as research objects to compare and investigate the impact of the sudden COVID-19 epidemic on the performance of companies.The results show that the epidemic has a negative impact on business performance by reducing the company’s asset utilization efficiency and increasing the overall cost rate.The efficient domestic epidemic prevention policies have improved the company performance,so the impact on domestic companies is less serious than that in the United States.In addition,the degree of impact is also closely related to the industry,the nature of property rights,and the degree of epidemic prevention and control in certain regions.The study extends the analysis of influencing factors of business performance to the field of public health,which not only reveals the path of impact of public health incidents on business performance,but also provides references for all parties to improve the performance of companies during the epidemic.

关 键 词：新冠肺炎疫情 企业经营绩效 突发公共卫生事件 

分 类 号：F272.5[经济管理—企业管理] F832.51[经济管理—国民经济] F837.12