Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/319327 
Erscheinungsjahr: 
2024
Quellenangabe: 
[Journal:] European Financial Management [ISSN:] 1468-036X [Volume:] 31 [Issue:] 2 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2024 [Pages:] 786-818
Verlag: 
Wiley, Hoboken, NJ
Zusammenfassung: 
We study the role of inventory in corporate resilience to Covid‐19 in 2020, which triggered exogenous shocks to consumer demand, commodity prices and supply chains. Unexpected drops in consumer demand and commodity prices increase the costs of inventory. Conversely, inventory holdings can buffer against supply disruptions. Empirically, US firms with higher inventory experienced more negative stock market responses early in the crisis due to falling consumer demand. However, since May 2020, inventory has become valuable as a hedge against supply disruptions, improving firm performance. During Covid‐19, unlike other crises, inventory played a unique role as a hedge against supply disruptions.
Schlagwörter: 
commodity price shock
consumer demand shock
Covid‐19
inventory
supply chain disruption
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Dokumentversion: 
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