Oil Price Volatility, Corporate Liquidity Hoarding, and Financial Stability: Evidence from Chinese A-Share Listed Firms (2019-2023)
In 2022, the global energy market experienced severe turbulence, with the Brent crude oil price reaching as high as 140 US dollars per barrel. As the world's largest crude oil importer, Chinese enterprises faced significant cost shocks and cash flow pressures. This study uses quarterly data of non-financial listed comp...