Financial Performance of Slovak Banks and Insurance Companies: COVID-19 Consequences

Janka Grofčíková (), Katarína Izáková () and Dagmar Škvareninová ()
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Janka Grofčíková: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Finance and Accounting
Katarína Izáková: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Finance and Accounting
Dagmar Škvareninová: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Finance and Accounting

Chapter Chapter 43 in Advances in Empirical Economic Research, 2023, pp 685-709 from Springer

Abstract: Abstract The insurance and banking markets of the Slovak Republic are currently undergoing significant changes due to the COVID-19 pandemic. The government’s measures also affected the activities of these entities, which was subsequently reflected in the results of their financial situation and performance. The aim of our chapter is to identify and examine the impact of the COVID-19 pandemic on the financial situation and performance of banks and insurance companies that have their seats in the Slovak Republic. The financial performance of banks and insurance companies will be quantified for the years 2016–2021 through selected indicators that evaluate the financial situation. The sample of entities includes all insurance companies and banks with the seats in Slovakia. Significance of year-on-year differences will be detected through the Wilcoxon Two-Related-Samples Test. Significance of differences between banks’ and insurance companies’ financial indicators will be detected through the Mann–Whitney U test. We will find out whether the changes in the financial situation caused by the COVID pandemic were similar or different in banks and insurance companies.

Keywords: Financial performance; Banks; Insurance companies; COVID-19 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-22749-3_43

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DOI: 10.1007/978-3-031-22749-3_43

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