COVID-19 pandemic and firm performance: Cross-country evidence
2021
Abstract 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.
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