The power of clans: How social capital sheltered firms during the COVID-19 pandemic

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2023-08-01 DOI:10.1016/j.econlet.2023.111224

Linqing Liu , Lisi Yang , Kai Yan

引用次数: 0

Abstract

Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firms from the shock. Our results frame social capital as a complementarity to formal institutions during crises.

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宗族的力量:社会资本如何在COVID-19大流行期间为企业提供庇护

来自3555家中国上市公司的数据显示，在新冠肺炎疫情后，家族实力更强的城市，企业的损失更小，复苏更快。宗族与促进大流行预防的个人价值观显著相关;这些联系保证了经济活动，保护了公司免受冲击。我们的研究结果将社会资本视为危机期间正式制度的补充。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.