Wan Zhao, Tian Haowen
School of Applied Economics, University of Chinese Academy of Social Sciences, Fangshan 102488, Beijing, China.
School of Management, Xi'an Jiaotong University, Xi'an 710049, Shaanxi, China.
Econ Lett. 2022 Aug;217:110678. doi: 10.1016/j.econlet.2022.110678. Epub 2022 Jun 20.
Using Chinese data, this study examines the effect of COVID-19 pandemic on tendencies and characteristics of information disclosure. Results show that, due to uncertainty caused by the pandemic, it is difficult to make earnings forecasts. Further, during the pandemic, forecast precision and timeliness decrease. The results remain unchanged under difference-in-difference (DiD) estimation. The findings of this paper extend existing studies on the economic consequences of COVID-19 pandemic and the influencing factors of information disclosure, providing implications for corporate managers, investors, and regulators.
本研究利用中国数据，考察了新冠疫情对信息披露倾向和特征的影响。结果表明，由于疫情造成的不确定性，盈利预测变得困难。此外，在疫情期间，预测的准确性和及时性有所下降。在双重差分（DiD）估计下，结果保持不变。本文的研究结果扩展了关于新冠疫情经济后果和信息披露影响因素的现有研究，为企业管理者、投资者和监管机构提供了启示。
