| Id |
Subject |
Object |
Predicate |
Lexical cue |
| T50 |
0-76 |
Sentence |
denotes |
To provide additional insights, we further conduct several additional tests. |
| T51 |
77-221 |
Sentence |
denotes |
First, we expect and find that continued decrease of provincial public health threats is positively related to the accumulative abnormal return. |
| T52 |
222-411 |
Sentence |
denotes |
Second, regarding the community lockdown, we find that the community lockdown mitigates the relationship between continued increasing public health threats and accumulative abnormal return. |
| T53 |
412-702 |
Sentence |
denotes |
Third, we additionally examine the firm heterogeneity in the effect of increasing threats on market reaction and find that the negative effect of increasing threats is weaker for firms with a higher level of geographical diversification, operating cash flow, and with a clean audit opinion. |
| T54 |
703-817 |
Sentence |
denotes |
Fourth, we find that our results are not driven by the fluctuations in the number of new confirmed COVID-19 cases. |
