#2221. Pandemics, intermediate goods, and corporate valuation

September 2026publication date
Proposal available till 30-05-2025
4 total number of authors per manuscript6510 $

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Journal’s subject area:
Finance;
Economics and Econometrics;
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Abstract:
We evaluate whether the changes in valuation of U.S. corporates during the first wave of the COVID-19 pandemic depend on their downstream or upstream industries’ exposure to social distancing. Using a new dataset on sectoral dependence on the use and sale of intermediate goods, we find that firms whose downstream sectors are more affected by social distancing suffer from a greater decline in stock prices during the first quarter of 20XX. Such an effect is mitigated for large firms.
Keywords:
Cash; Intermediate goods; Liquidity; Pandemic; Valuation

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