Factors influencing financial performance of healthcare listed companies in China during COVID-19 pandemic

Name: Jiaxun Li

LCSH: Healthcare professional -- China

LCSH: Financial management -- Methods

LCSH: COVID-19 (Disease) -- Economic aspects -- China

LCSH: China -- Economic conditions

Abstract: This study examines Chinese companies' performance in the healthcare sector context, focusing on the prior and during COVID-19 periods and utilizing various statistical analyses, including simple and multiple regression models, fixed-effects models (FEM), and random-effects models (REM). The study includes robustness checks to validate the reliability of the findings, including Hausman tests to assess the optimal model specification. Data was collected from Chinese-listed companies in the healthcare sector for six years from 2017 - 2022. A total sample of 206 is used in this study. The researcher investigates the relationship between financial indicators and company performance, measured by return on equity (ROE) and return on assets (ROA) as dependent variables. Key financial metrics such as current ratio (CR), debt-to-asset ratio (DA), debt-to-equity ratio (DE), sales growth (SG), operating cash flow (OCF), and size (S) are considered independent variables in the analysis. While CV19 is a dummy variable indicating before COVID-19 years (0) and during COVID-19 years (1). The findings reveal significant variations in company performance across different models and periods, with notable coefficients observed for certain independent variables. The results suggest that financial leverage, CR, and DA have a negative impact on ROA and ROE. In addition, SG, OCF, and S were found to be statistically significant to both ROA and ROE. Interestingly, we find that the CV19 variable has no impact on the firm's financial performance. Overall, this study contributes to a deeper understanding of the financial dynamics within the healthcare sector and provides valuable insights for stakeholders navigating the challenges posed by the COVID-19 pandemic

Rangsit University Library

Address: Pathumthani

Email: library@rsu.ac.th

Name: Kanitsorn Terdpaopong

Role: Advisor

Created: 2024

Modified: 2568-11-11

Issued: 2025-11-11

วิทยานิพนธ์/Thesis

application/pdf

eng

DegreeName: Doctor of Business Administration

Level: Doctoral Degree

Descipline: Business Administration

Grantor: Rangsit University

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