The impact of government financial aid and digital tools on firm survival during the Covid-19 pandemic
Bibliographic Data
| ID | 14869100 |
|---|---|
| Authors | David B Audretsch (0000-0002-3815-7762, Indiana University Bloomington, corresponding author), Martina Aronica (0000-0002-8597-5215, University of Palermo), Maksim Belitski (0000-0002-9895-0105, Centre Alexandre Koyré), Davide Caddemi (University of Palermo), Davide Piacentino (0000-0001-6252-1264, University of Palermo) |
| Year | 2025 |
| Volume | 65 |
| Issue | 2 |
| Pages | 813-836 |
| Publication date | 2025-08-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Small Business Economics (JOURNAL) |
| Journal identifiers | ISSN: 0921-898X • E-ISSN: 1573-0913 |
| Publisher | Springer Science and Business Media LLC (PUBLISHER) |
| DOI | 10.1007/s11187-025-01014-5 |
| OpenAlex | W4407753138 |
| Language | EN |
| Citations received | 7 |
| References cited | 82 |
This study explores the effect of bailout capital and digital diversification by small- and medium-sized enterprises (SMEs) on their propensity to survive during and after the COVID-19 pandemic. Using a random sampling of 5469 SMEs from 16 European countries, collected by the World Bank Enterprise Survey in May 2020, January 2021, and May 2021, we conduct a two-stage estimation to examine factors that first affected the propensity of SMEs to access bailout capital, and second, factors that increased the propensity of SMEs to survive longer during and after crises. Two key findings emerge. Diversification of government financial aid and the adoption of various digital tools to leverage the effect of shock by SMEs increase their propensity to survive by sized firms. Moreover, government financial aid does not moderate the effect of digital tool adoption on the propensity to survive. Policy insights and implications are also discussed
2019-20 coronavirus outbreak · Business · Coronavirus disease 2019 (COVID-19 · Economics · Entrepreneurship · Government (linguistics · Pandemic · Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2 · Corporate Finance and Governance · Firm Innovation and Growth · Medicine · Working Capital and Financial Performance · Finance · Internal Medicine · Virology
Citizens’ Attitudes Toward E-Government During the Covid-19 Pandemic
Socio-economic conditions and firm survival amid the Covid-19 pandemic
Decline in job satisfaction and how it relates to investment decisions of the self‐employed
Targeted monetary policy and loan availability for small and microenterprises
SME growth in crisis
Targeted monetary policy, SMEs’ loan availability, and corporate investment
Entrepreneurial finance in an extended period of crises
Teleworking in the Context of the Covid-19 Crisis
Service Innovation
Entrepreneurship and economic development in cities
Managerial Incentive Problems
Innovation and firm growth
Variations in R&D Investments of Family and Nonfamily Firms
Nonparametric Estimation from Incomplete Observations
Proportional hazards tests and diagnostics based on weighted residuals
Institutions and Entrepreneurship Quality
Startups in times of crisis – A rapid response to the Covid-19 pandemic
Sample Selection Bias as a Specification Error
Regression Models and Life-Tables
The economic effects of politically connected entrepreneurs on the quality and rate of regional entrepreneurship
Daily mobility patterns of small business owners and homeworkers in post-industrial cities
Artificial intelligence and innovation management
Every cloud has a silver lining
Corruption and Growth
Does equity crowdfunding democratize entrepreneurial finance
Small firms and the Covid-19 insolvency gap
Economic effects of the Covid-19 pandemic on entrepreneurship and small businesses
Taxes, corruption, and entry
Impacts of Covid-19 on the self-employed
Did the Paycheck Protection Program and Economic Injury Disaster Loan Program get disbursed to minority communities in the early stages of Covid-19
Working from home
Innovation and diffusion in small firms
The determinants of bootstrap financing in crises
Digital equity and government support during Covid-19
The early impacts of the Covid-19 pandemic on business sales
Who and where are the flexible workers? Exploring the current diffusion of telework in Sweden
Emergency-aid for self-employed in the Covid-19 pandemic
Private and Public Supply of Liquidity
A global panel database of pandemic policies (Oxford Covid-19 Government Response Tracker)
Why do Some Countries Produce So Much More Output Per Worker than Others
| Unique citing works | 7 |
|---|---|
| Citations per year | 7 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 7 |