COVID-19 pandemic and firm performance: Cross-country evidence

By Shiwei Hu, Yuyao Zhang. International Review of Economics and Finance, 2021

219 citations recorded by the source corpus.

Using financial data on firms worldwide, we assess the impact of COVID-19 on corporate performance. We show that firm performance deteriorates during the COVID-19 pandemic. The adverse effects of COVID-19 on firm performance are less pronounced in countries with better healthcare systems, more advanced financial systems, and better institutions. Finally, uncertainty avoidance strengthens the adverse effect of the COVID-19 pandemic.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/fcbabf83b516f34af2403849414add3c4ef68d6c