How Long to Read Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses

How Long Does it Take to Read Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses?

It takes the average reader and 54 minutes to read Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses by Mr. Thierry Tressel

Assuming a reading speed of 250 words per minute. Learn more

Description

Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability and solvency. For this purpose, we develop novel multi-factor sensitivity analysis and dynamic scenario-based stress test techniques to assess the impact of shocks on firm’s ability to service their debt, and on their liquidity and solvency positions. Applying the October 2020 WEO baseline and adverse scenarios, we find that a large share of publicly-listed firms become vulnerable as a result of the pandemic shock and additional borrowing needs to overcome cash shortfalls are large, while firm behavioral responses and policies substantially help overcome the impact of the shock in the near term. Looking forward, while interest coverage ratios tend to improve over time after the initial shock as earnings recover in line with projected macroeconomic conditions, liquidity needs remain substantial in many firms across countries and across industries, while insolvencies rise over time in specific industries. To inform policy debates, we offer an approach to a triage between viable and unviable firms, and find that the needs for liquidity support of viable firms remain important beyond 2020, and that medium-term debt restructuring needs and liquidations of firms may be substantial in the medium-term.

How long is Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses?

Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses by Mr. Thierry Tressel is 54 pages long, and a total of 13,716 words.

This makes it 18% the length of the average book. It also has 17% more words than the average book.

How Long Does it Take to Read Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 14 minutes to read Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses aloud.

What Reading Level is Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses?

Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses?

Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses by Mr. Thierry Tressel is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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