The Impact of the COVID-19 Pandemic on Firm Performance
By Huayu Shen, Mengyao Fu, Hongyu Pan, Zhongfu Yu, Yongquan Chen. Emerging markets finance & trade, 2020
670 citations recorded by the source corpus.
ABSTRACT Using the financial data of listed Chinese companies, we study the impact of COVID-19 on corporate performance. We show that COVID-19 has a negative impact on firm performance. The negative impact of COVID-19 on firm performance is more pronounced when a firm’s investment scale or sales revenue is smaller. We show, in an additional analysis, that the negative impact of COVID-19 on firm performance is more pronounced in serious-impact areas and industries. These findings are among the first empirical evidence of the association between pandemic and firm performance.
Subfields: Economics and Econometrics, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/c608a5e6fb59a81bd62a9ef2fd0ab097f370f03d
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Citations in the corpus
- COVID‐19 impact, sustainability performance and firm value: international evidence (2021, positive): “Another recent study by Shen et al. (2020) examines whether COVID-19 has any influence on firm performance in China, with the authors documenting that firm performance has deteriorated due to the COVID-19 pandemic.”
- The Impact of Corporate Governance on Firm Performance During The COVID-19 Pandemic: Evidence from Malaysia (2021, neutral): “One exception is the work of Shen et al. (2020) who found COVID-19 has a negative impact on the performance 1 First Author and Corresponding Author.”
- COVID-19 lockdowns, stimulus packages, travel bans, and stock returns (2020, neutral): “…2020; Mishra et al. 2020; Zhang et al., 2020; Haroon and Rizvi, 2020; Ali et al., 2020; Al-Awadhi et al., 2020); corporate performance (Fu and Shen, 2020; Shen et al. 2020); exchange rates (Iyke, 2020b); global trade and insurance (C.T and Prabheesh, 2020; Wang et al. 2020); industry and…”
- The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange (2020, background): “It is a ratio between net income after tax and total assets, which shows the measure of asset productivity in generating profit (Handayani & Zulyanti, 2018; Syafirah, 2019; Subramanyam, 2014).”
- A Note on the Asian Market Volatility During the COVID-19 Pandemic (2020, neutral): “…global economies; see, for instance, Mishra et al. (2020), Salisu & Akanni (2020), Chen et al. (2020), Wang et al. (2020), Yue et al. (2020), Yu et al. (2020), Xiong et al. (2020), Shen et al. (2020), Gu et al. (2020), Haroon & Rizvi (2020), Iyke (2020), He et al. (2020), and Liu et al. (2020).”