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首页> 外文期刊>Journal of Risk and Financial Management >The Nexus between Financial Performance and Equilibrium: Empirical Evidence on Publicly Traded Companies from the Global Financial Crisis Up to the COVID-19 Pandemic
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The Nexus between Financial Performance and Equilibrium: Empirical Evidence on Publicly Traded Companies from the Global Financial Crisis Up to the COVID-19 Pandemic

机译:金融业绩与均衡之间的Nexus:来自全球金融危机的公开交易公司的经验证据,达到Covid-19大流行

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Financial performance and financial equilibrium are two key aspects that should be monitored by any business manager interested in passing the test of time and overcoming unpredictable events such as economic crises. The organic link between financial performance and financial equilibrium has rarely been studied in the long run for companies listed on the stock market. The present article fills this gap in the literature by examining the degree to which financial performance influenced long-term financial equilibrium using data from 34 major companies publicly traded on the New York Stock Exchange and operating around the world in a wide variety of industries and sectors. The period of analysis spread over a decade (2007Q1–2020Q3) in order to cover two major crises that have marked the dawn of the third millennium and occurred relatively close to one another: the 2008 financial meltdown and the COVID-19 pandemic crisis. By means of panel data modelling, the study showed that the short-term and long-term financial equilibria of these public companies measured by current ratio, quick ratio and debt to equity ratio were significantly impacted by different financial performance indicators. The study addresses various implications of the empirical results and lays out avenues for future research.
机译:财务绩效和财务均衡是两个关键方面,应由任何有兴趣通过时间考验和克服经济危机等不可预测活动的业务经理监督。在股票市场上市的公司,财务绩效与金融均衡之间的有机联系很少研究过。本文通过研究金融业绩影响长期财务均衡的程度,利用来自纽约证券交易所公开交易的34家主要公司的数据,在各种行业和部门在全球范围内运营的数据,填补了金融业绩的程度。分析期限在十年(2007Q1-2020Q3)上传播,以涵盖标有第三千年黎明的两个主要危机,并发生相对彼此相对接近:2008年金融崩溃和科迪德 - 19大流行危机。通过面板数据建模,研究表明,这些公共公司的短期和长期财政均衡,通过当前比率,快速比率和债务衡量股权率,受到不同的财务绩效指标的显着影响。该研究解决了经验结果的各种影响,并为未来的研究制定了途径。

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