The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics
Irwansyah (irwansyah@feb.unmul.ac.id),
Muhammad Rinaldi,
Abdurrahman Maulana Yusuf,
Muhammad Harits Zidni Khatib Ramadhani,
Sitti Rahma Sudirman and
Rizky Yudaruddin
Additional contact information
Irwansyah: Department of Accounting, Mulawarman University, Samarinda 75123, Indonesia
Muhammad Rinaldi: Department of Accounting, Mulawarman University, Samarinda 75123, Indonesia
Abdurrahman Maulana Yusuf: Department of Accounting, Mulawarman University, Samarinda 75123, Indonesia
Muhammad Harits Zidni Khatib Ramadhani: Department of Accounting, Mulawarman University, Samarinda 75123, Indonesia
Sitti Rahma Sudirman: Department of Accounting, Mulawarman University, Samarinda 75123, Indonesia
Rizky Yudaruddin: Department of Management, Mulawarman University, Samarinda 75123, Indonesia
JRFM, 2023, vol. 16, issue 11, 1-18
Abstract:
This study investigates the impact of the COVID-19 pandemic on company performance in the consumer goods industry. Additionally, it explores how company characteristics influence the relationship between the pandemic and company performance based on industry type and region. Analyzing data from 1491 companies across 79 countries between 2018 and 2022, we utilized ordinary least squares (OLS) with robust standard errors. Our findings confirm the pandemic’s overall adverse effect on the performance of consumer goods companies. However, variations emerged when examining diverse industries and regions. Notably, larger companies, particularly in the Americas, Europe, and Asia–Pacific, demonstrated greater resilience and performance during the pandemic. Furthermore, effective leveraging, especially in the Americas and Asia–Pacific, contributed to supporting performance amid the pandemic. These results hold crucial policy implications for companies aiming to enhance their performance in the face of health crises.
Keywords: COVID-19; firm characteristics; performance; consumer goods (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:
Downloads: (external link)
https://www.mdpi.com/1911-8074/16/11/483/pdf (application/pdf)
https://www.mdpi.com/1911-8074/16/11/483/ (text/html)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:16:y:2023:i:11:p:483-:d:1279669
Access Statistics for this article
JRFM is currently edited by Ms. Chelthy Cheng
More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager (indexing@mdpi.com).