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- Title
Firm Finances and the Spread of COVID-19: Evidence from Nursing Homes.
- Authors
Begley, Taylor A; Weagley, Daniel
- Abstract
We find that firms' financial resources play an important role in mitigating the spread of COVID-19. We study nursing homes—whose residents account for over one-third of all U.S. COVID-19 deaths—at a time when investment in risk mitigation was costly and critical. Facilities with less liquidity and those experiencing more severe cash flow shocks had more cases of COVID-19. The importance of cash flow is further supported by tests exploiting state-level variation in Medicaid reimbursement expansion. Evidence on personal protective equipment supplies suggests a lack of financial resources leads to lower investment in risk mitigation. (JEL G30, G32, I10) Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online.
- Subjects
SPREAD (Finance); MEDICAID; NURSING care facilities; HYPERLINKS; COVID-19; COVID-19 pandemic; BANK liquidity
- Publication
Review of Corporate Finance Studies, 2023, Vol 12, Issue 1, p1
- ISSN
2046-9128
- Publication type
Article
- DOI
10.1093/rcfs/cfac041