Pandemic Attributes and Location Avoidance of Firm Acquisitions

大流行病的广泛性、波动性和节奏性特征对一个国家内企业投资地点选择的影响

讲座题目：Pandemic Attributes and Location Avoidance of Firm Acquisitions

讲座人：Jun Xia 夏军

讲座时间：2023年6月8日（星期四）下午15：00—16：30

讲座地点：商学院520

讲座摘要：Pandemic Attributes and Location Avoidance of Firm Acquisitions

From a threat avoidance perspective, this study develops new dimensions of external threats to examine the influence of pandemic attributes on the location choice of firm investments within a country. We conceptualize that a pandemic like Covid-19 can be characterized by its pervasiveness, volatility, and rhythm in a region. Integrating the threat-response literature and research on natural disasters, we propose that these pandemic characteristics in a region have negative impacts on the choice of that location for firm acquisition activities. We identify three corresponding mechanisms, pandemic spatial exposure, unpredictability, and constant exposure, to explain the relationships. Using a sample of U.S. public firms during the COVID-19 pandemic period, we found evidence supporting our predictions.