Social Costs of the COVID-19 Management in Shanghai from Private Enterprises Perspective — A Case Study of Pang Pang Xiang (China) Co., Ltd.
Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v4i6.1525
Abstract
Managing pandemic not only saves money by reducing transmission risk and minimizing economic impact, but it also incurs social costs and economic costs by disrupting the economy and increasing healthcare expenditures.This paper explores the social cost perspective of managing COVID-19 in Shanghai, with a focus on Pang Pang Xiang (China) Co., Ltd., which the only agricultural products and sideline distribution company seek IPO during the pandemic. The study employs qualitative case study methodology and content analysis to examine empirical data. It reveals that the company experienced a significant increase in revenue and gross profit margin due to business privileges during pandemic management, resulting in social costs.
Keywords
social cost, COVID-19 management, lockdown, private enterprise, Z-score
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[8] Shapiro, Sismondi. The problem of social cost. The Journal of Political Philosophy, 3(4), (1995): 357-379.
[9] Chen Jinchi, Western Modern Accounting Theory, Publisher: China Finance and Economics Press, 2007.
[10] Annual Report 2015-2018 of PANG PANG XIANG (CHINA) COMPANY LIMITED,NEEQ, (2016-2019).
[11] Prospectus of April 2022 and Prospectus of October 2022 of PANG PANG XIANG (CHINA) COMPANY LIMITED, (2022).
[12] Audit Report 2015 of PANG PANG XIANG (CHINA) COMPANY LIMITED, (2015), NEEQ.
[13] NEEQ:The Introduction of NEEQ, the National Equities Exchange and Quotations of China, (2021).
[14] Announcement on the termination of listing of shares of Shanghai Pang Pang Agricultural and Side Products Distribution Co., NEEQ, (2019).
[15] Shanghai Release : heavyweight! Shanghai launches new round of citywide block and grid-based nucleic acid screening,(2022), Shanghai Government.
[16] Shanghai Statistics Bureau: Shanghai Statistic Year Book (2020,2021,2022,2023).
[17] Shapiro, Sismondi, New Principles of Political Economy, translated by He Qin, Beijing: Commercial Press, 1997, 68 and 243 pp.
[18] Prabandari, S. The Description of the Impact of the Covid-19 Pandemic on MSME: Some Fall, Some Prevail. AFEBI Economic and Finance Review. (2021) https://doi.org/10.47312/aefr.v6i2.427.
[19] Wu, Shui Peng, Theory of Economic Benefit Accounting, Publisher: Southwest University of Finance and Economics Press, 1992.
[20] PRC State Administration of Market Supervision (SACM): Guiding Opinions of the General Administration of Market Supervision on the Investigation and Handling of Illegal Acts of Price Gouging during the Prevention and Control of the Pneumonia Epidemic of Novel Corona-virus Infection,(2020).
[21] Shanghai Statistic Bureau: Statistical Data and Information of Shanghai Municipal Bureau of Statistics and National Bureau of Statistics Shanghai General Bureau of Surveys,(2019-2022).
[22] Shanghai Statistic Bureau: Disposable Income and Consumer Expenditures per Capita in the City in the First Half of 2022,(2022).
[23] Xinhua News: Guidance for Ensuring Market Price Stability of Basic Living Commodities and Necessities,(2022).
[24] Altman, Edward I.,Fifty Years of Z-Scores to Predict the Probability of Corporate Bankruptcy. Journal of Investment Consulting, Vol. 19, no. 1, 2019, pp. 15-22, (2019) Available at SSRN: https://ssrn.com/abstract=3522672.
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