articleEmerging Markets Finance and TradeJul 25, 2020Closed access

The Impact of the COVID-19 Pandemic on Firm Performance

HSHuayu ShenMFMengyao FuHPHongyu PanZYZhongfu YuYCYongquan Chen

North China Electric Power University · Guilin University of Technology

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Abstract

Using the financial data of listed Chinese companies, we study the impact of COVID-19 on corporate performance. We show that COVID-19 has a negative impact on firm performance. The negative impact of COVID-19 on firm performance is more pronounced when a firm’s investment scale or sales revenue is smaller. We show, in an additional analysis, that the negative impact of COVID-19 on firm performance is more pronounced in serious-impact areas and industries. These findings are among the first empirical evidence of the association between pandemic and firm performance.

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820
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5

Topics & keywords

Topics
Keywords
  • Coronavirus disease 2019 (COVID-19)
  • Business
  • Pandemic
  • 2019-20 coronavirus outbreak
  • Scale (ratio)
  • Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)
  • China
  • Revenue
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