COVID-19 pandemic and firm performance: Cross-country evidence
Shiwei Hu and
International Review of Economics & Finance, 2021, vol. 74, issue C, 365-372
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.
Keywords: Pandemic; Firm performance; Governance; Uncertainty avoidance (search for similar items in EconPapers)
JEL-codes: G3 I10 M14 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:74:y:2021:i:c:p:365-372
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