This study investigates the curvilinear relationship between financial resilience (FR) and corporate financial performance (CFP) using data from Taiwanese publicly listed manufacturing firms during the COVID-19 pandemic. Employing a quantile regression approach, the study finds a concave-convex relationship between FR and CFP, varying across environmentally sensitive and non-sensitive firms. The implications suggest that firms should carefully manage FR to avoid under- or over-investment.
Publisher
Humanities and Social Sciences Communications
Published On
Oct 06, 2023
Authors
XueHui Zhang, Kun-Shan Wu, Mingwen He
Tags
financial resilience
corporate financial performance
COVID-19
quantile regression
Taiwanese firms
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