An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model

COVID-19 has had a great impact on the economy, society, and people’s lives in China and globally. The production and operations of Chinese enterprises have also faced tremendous challenges. To understand the economic impact of COVID-19 on enterprises and the key affecting factors, this study adds t...

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Autores principales:	Lijiao Yang, Yishuang Qi, Xinyu Jiang
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	initial recovery survival analysis affecting factors accelerated failure time model COVID-19 Medicine R
Acceso en línea:	https://doaj.org/article/a8e6f9fd34a04b558747cef63c975d20
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spelling	oai:doaj.org-article:a8e6f9fd34a04b558747cef63c975d202021-11-25T17:50:58ZAn Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model10.3390/ijerph1822120791660-46011661-7827https://doaj.org/article/a8e6f9fd34a04b558747cef63c975d202021-11-01T00:00:00Zhttps://www.mdpi.com/1660-4601/18/22/12079https://doaj.org/toc/1661-7827https://doaj.org/toc/1660-4601COVID-19 has had a great impact on the economy, society, and people’s lives in China and globally. The production and operations of Chinese enterprises have also faced tremendous challenges. To understand the economic impact of COVID-19 on enterprises and the key affecting factors, this study adds to the literature by investigating the business recovery process of enterprises from the micro perspective. Specific attention is paid to the initial stage of business recovery. A questionnaire survey of 750 enterprises explored the impact during the pandemic period from July to September 2020. An accelerated failure time model in survival analysis was adopted to analyze the data. The results show that the manufacturing industry is mainly faced by affecting factors such as enterprise ownership, employees’ panic and order cancellation on initial enterprise recovery. As for the non-manufacturing industry, more factors, including clients’ distribution, employees’ panic, raw material shortage, cash flow shortage and order cancellation, are found to be significant. Acceleration factors that estimate the effects of those covariates on acceleration/deceleration of the recovery time are presented. For instance, the acceleration factor of employees’ panic is 1.319 for non-manufacturing, which implies that, compared with enterprises where employees are less panicked, enterprises with employees obviously panicked will recover 1.319 times slower at any quantile of probability of recovery time. This study provides a scientific reference for the post-pandemic recovery of enterprises, and can support the formulation of government policies and enterprise decisions.Lijiao YangYishuang QiXinyu JiangMDPI AGarticleinitial recoverysurvival analysisaffecting factorsaccelerated failure time modelCOVID-19MedicineRENInternational Journal of Environmental Research and Public Health, Vol 18, Iss 12079, p 12079 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	initial recovery survival analysis affecting factors accelerated failure time model COVID-19 Medicine R
spellingShingle	initial recovery survival analysis affecting factors accelerated failure time model COVID-19 Medicine R Lijiao Yang Yishuang Qi Xinyu Jiang An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
description	COVID-19 has had a great impact on the economy, society, and people’s lives in China and globally. The production and operations of Chinese enterprises have also faced tremendous challenges. To understand the economic impact of COVID-19 on enterprises and the key affecting factors, this study adds to the literature by investigating the business recovery process of enterprises from the micro perspective. Specific attention is paid to the initial stage of business recovery. A questionnaire survey of 750 enterprises explored the impact during the pandemic period from July to September 2020. An accelerated failure time model in survival analysis was adopted to analyze the data. The results show that the manufacturing industry is mainly faced by affecting factors such as enterprise ownership, employees’ panic and order cancellation on initial enterprise recovery. As for the non-manufacturing industry, more factors, including clients’ distribution, employees’ panic, raw material shortage, cash flow shortage and order cancellation, are found to be significant. Acceleration factors that estimate the effects of those covariates on acceleration/deceleration of the recovery time are presented. For instance, the acceleration factor of employees’ panic is 1.319 for non-manufacturing, which implies that, compared with enterprises where employees are less panicked, enterprises with employees obviously panicked will recover 1.319 times slower at any quantile of probability of recovery time. This study provides a scientific reference for the post-pandemic recovery of enterprises, and can support the formulation of government policies and enterprise decisions.
format	article
author	Lijiao Yang Yishuang Qi Xinyu Jiang
author_facet	Lijiao Yang Yishuang Qi Xinyu Jiang
author_sort	Lijiao Yang
title	An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
title_short	An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
title_full	An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
title_fullStr	An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
title_full_unstemmed	An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model
title_sort	investigation of the initial recovery time of chinese enterprises affected by covid-19 using an accelerated failure time model
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/a8e6f9fd34a04b558747cef63c975d20
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An Investigation of the Initial Recovery Time of Chinese Enterprises Affected by COVID-19 Using an Accelerated Failure Time Model

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