The Impact of the COVID-19 Pandemic on the Automotive Industry in Visegrad Four Countries

Hussam Musa (), Frederik Rech (), Zdenka Musova () and Chen Yan ()
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Hussam Musa: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management
Frederik Rech: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management
Zdenka Musova: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management
Chen Yan: Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management

Chapter Chapter 45 in Advances in Empirical Economic Research, 2023, pp 727-742 from Springer

Abstract: Abstract The COVID-19 pandemic had detrimental impacts on all sectors across the world, with the automotive sector not being an exception. It paralyzed demand for vehicles and disrupted the entire supply chain. To decrease the spread of the COVID-19 coronavirus, individual governments introduced their own sets of restrictive and containment measures. The governments also rolled out various stimulus packages to stimulate the economy from the COVID-19 shock. The aim of this study is to quantify the country and size-based impact of the COVID-19 pandemic on the automotive sector in Visegrad Four countries using ANOVA analysis. As per our results, there is weak evidence, suggesting that companies in Slovakia had on average worse financial position as compared to companies in Poland and Hungary, mainly because of country-based pandemic measures and fiscal-related stimulus policies. In addition, there is moderate evidence, suggesting that medium-sized companies had on average a better financial position as compared to large companies. This may be due to the specific attention and fiscal stimulus small- and medium-sized companies received; thus, we provide possible implications of the successful stimulation of medium-sized companies. Finally, there is no interaction effect between the two factors.

Keywords: Visegrad Four countries; Automotive industry; COVID-19 pandemic (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-22749-3_45

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