COVID-19 and firm performance: empirical evidence from Bangladesh

Subarna Rani Das () and Md. Ibrahim Molla ()
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Subarna Rani Das: University of Barishal
Md. Ibrahim Molla: University of Barishal

SN Business & Economics, 2025, vol. 5, issue 6, 1-18

Abstract: Abstract This study investigates the impact of COVID-19 pandemic on the financial performance of listed firms in Bangladesh. Using a difference-in-differences (DID) econometric model, complemented by t-test and Mann–Whitney test, the analysis reveals a significant decline in financial performance of firms measured by return on assets (ROA), return on equity (ROE), and Tobin's Q (TQ). Robustness tests confirm the reliability of these findings. To the best of the researcher's knowledge, it might be the first empirical evidence that explores the impact of COVID-19 on the financial performance of firms using the data of all the listed non-financial firms in Bangladesh.

Keywords: COVID-19; Pandemic; DID model; Financial performance; Bangladesh (search for similar items in EconPapers)
JEL-codes: I1 M41 M49 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s43546-025-00811-0

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