摘要
作为重大突发公共卫生事件,新冠肺炎疫情对全球经济造成了严重冲击。文章以我国A股上市公司为样本,利用事件研究法探究了新冠肺炎疫情对我国资本市场的冲击效应,研究结果表明:新冠肺炎疫情给我国资本市场带来了显著的负面冲击,但这种负面冲击不具有持续性。此外,文章进一步利用中介效应检验方法探究了新冠肺炎疫情对资本市场的作用机制,发现投资者情绪是新冠肺炎疫情对资本市场造成负面冲击的重要影响路径。最后从监管者、企业、投资者三个角度对完善重大突发公共事件的宏观治理与风险防范对策提出了相关建议。
As a major public health emergency,COVID-19 pandemic has had a severe impact on the global economy.Taking A-share listed companies in China as research samples,this paper explores the impact of COVID-19 pandemic on the capital market in China by the event study method.The results show that COVID-19 pandemic has brought significant negative impact on the capital market in China,but this negative impact is not lasting.In addition,the paper further uses the mediation model to test the mechanism of the impact of COVID-19 pandemic on the capital market,and finds that investor sentiment is an important influence path of the negative impact of COVID-19 pandemic on the capital market.Finally,from the three perspectives of regulators,enterprises and investors,the paper puts forward relevant suggestions on the macro-governance and prevention of such emergencies.
作者
姚禄仕
张雅婷
王晓佳
YAO Lushi;ZHANG Yating;WANG Xiaojia(School of Management,Hefei University of Technology,Hefei 230009,China)
出处
《合肥工业大学学报（社会科学版）》
2022年第4期43-50,101,共9页
Journal of Hefei University of Technology(Social Sciences)
基金
国家自然科学基金项目(61876055)。
