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Contribution Details

Type Master's Thesis
Scope Discipline-based scholarship
Title Do firms' sustainability profiles increase their resilience towards the COVID-19 crisis? An event study of the market reaction in agri-food industry around the WHO announcements
Organization Unit
Authors
  • Yuqing Lian
Supervisors
  • Steven Ongena
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Date 2020
Abstract Text In a matter of weeks, COVID-19 has laid bare the underlying risks, fragilities, and inequities in our food systems. The outbreak is not only a wake-up call for the global food systems that must be heeded, but also the first real-world test since the 2008 global financial crisis of the resilience of companies with high sustainability ratings. This paper aims to examine and to provide new empirical evidence on a) how and to what degree the agri-food industry is affected by the coronavirus crisis and b) do firms’ sustainability profiles increase their resilience towards the crisis. To proceed, an event study combined with regression methodology is applied to investigate agrifood firms’ level of preparedness and resilience to navigate riskier and stressful environment. Finally, based on the key findings, this paper develops implications for stakeholders including investors, agri-food firms, and policy makers.
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