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This study uses the paired-sample t test and the Wilcoxon signed-rank to examine the impact of the COVID-19 crisis on the financial industry’s operating performance. The empirical results are as follows: First, the global economic recession caused by the COVID-19 crisis has not affected the profitability of financial holding companies. On the contrary, financial holding companies had significantly better profitability during the COVID-19 period. Second, the banking industry is indeed affected by the COVID-19 crisis, so the banking industry has poor performance in terms of profitability, growth, operating capability, and solvency. However, private banks have not been affected by the COVID-19 crisis, private banks have better profitability. Third, the profitability and solvency of the insurance industry have not been affected by the global economic recession triggered by the COVID-19 crisis. On the contrary, these two capabilities have significantly better performance during the COVID-19 period. Fourth, the operating capability of the securities industry has not been affected by the global economic recession caused by the COVID-19 crisis. Instead, it has significantly better performance during the COVID-19 period.
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