基地研究员许泳昊副教授、基地研究员刘姝老师的论文“Recovering after natural disasters: A stabilizing role of the government”在重要学术期刊China Economic Review发表。

摘要：This paper explores the patterns of corporate recovery following natural disasters, with a specific focus on the government’s role in facilitating this process. Our results reveal that firms recover fast following disasters in China, with the effect being more pronounced among state-owned enterprises (SOEs). Mechanism analysis identifies the government’s direct and indirect capital injections as the primary drivers of this swift recovery, which help mitigate disruptions in corporate investments. Furthermore, this government intervention exhibits a nuanced nature. Corporate post-disaster recovery tends to be weaker (stronger) for SOEs (Non-SOEs) when local fiscal expenditure is stronger. Different government intervention methods exhibit a substitution effect. Overall, this paper underscores the noteworthy and intricate role of the government in stabilizing the economy.

关键词：Post-disaster recovery; Corporate performance; Government intervention; SOEs

论文链接：https://doi.org/10.1016/j.chieco.2025.102569

教师简介

许泳昊，北京大学金融学博士，2021年加入中南财经政法大学金融学院。研究领域包括行为金融、资产定价与家庭金融。研究成果发表在《管理世界》、International Review of Economics and Finance和Economics Letters等国内外期刊中，2022年获批国家自然科学基金青年项目。

刘姝，中南财经政法大学金融学院讲师，博士毕业于香港城市大学。目前学术论文发表于多个国外高质量期刊和会议，包括FRL、FMA、AsianFA、SFA、EFMA等。主持教育部青年项目1项，参与国家自然科学基金、国家社会科学重点项目等若干。