The Financial Situation of Enterprises in the Clothing and Footwear Sector in the Face of the COVID-19 Pandemic

Iwona Bak and Beata Szczecinska

European Research Studies Journal, 2021, vol. XXIV, issue 4 - Part 1, 233-245

Abstract: Purpose: The purpose of this article is to try to assess the impact of COVID-19 on the financial situation of enterprises in the clothing and footwear sector. Companies listed on the Warsaw Stock Exchange were used as a case study. Design/Methodology/Approach: The study used a synthetic measure based on the zero unitarization method, which allowed for the classification of the surveyed enterprises from the point of view of their financial condition. Findings: The methods used in the paper turned out to be a helpful tool in determining the financial condition of companies. They showed significant changes resulting from the spread of COVID-19. As the pandemic situation is still not stabilized, such analyses as in this article should be continued in the coming years. That will enable the observation of regularities or their absence, especially after the pandemic has ended. Practical Implications: The results of this kind of research can help managers, as well as current and potential shareholders, understand how the pandemic affects the company and its financial implications. Such information will help make decisions about future activities. Thus, the study fills the research gap in this area. Originality/Value: The article contributes to the current scientific discussion on the impact of the COVID-19 pandemic on the financial situation of companies in the world.

Keywords: COVID-19; pandemic; financial situation; taxonomic analysis. (search for similar items in EconPapers)
JEL-codes: C38 G32 L67 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxiv:y:2021:i:4-part1:p:233-245

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