Covid-19 pandemic and firm performance
Evidence on industry differentials and impacting channels
Bibliographic Data
| ID | 21515656 |
|---|---|
| Authors | Hang Thi Ngo (0000-0001-5744-5367, The State Bank of Vietnam), Ha Ngan Duong, Ngân Hà Dương (0000-0003-3756-1728, The State Bank of Vietnam) |
| Year | 2024 |
| Volume | 51 |
| Issue | 4 |
| Pages | 569-583 |
| Publication date | 2024-03-21 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Social Economics (JOURNAL) |
| Journal identifiers | ISSN: 0306-8293 • E-ISSN: 1758-6712 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/ijse-02-2023-0072 |
| OpenAlex | W4386712183 |
| Language | EN |
| Citations received | 2 |
| References cited | 21 |
Purpose This study explores the impacts of Covid-19 on the performance of firms operating in different industries, and further discovers suspected impacting channels through which Covid-19 is significantly associated with firm performance. Design/methodology/approach A dataset of 402 listed firms from 2017Q1 to 2021Q4 is proceeded with high dimensional fixed effect (firm-quarter fixed effects) models and difference-in-difference models supported by propensity score matching. A thorough robustness testing procedure with a falsification test with a hypothetical event is applied. Findings The study asserts that the pandemic has remarkably hurt the businesses in industries that are more vulnerable to the coronavirus and governmental response policies. Adding to the confirmation of sales and expense channels, new channels – competition and short-term receivables –through which the negative impact of the pandemic is passed on firms is also examined. Originality/value First, this study is to be the first comprehensively investigate and affirm the varying impact of Covid-19 on the business performance of listed firms from different industries in Vietnam, providing additional insight into this research field in Vietnam and emerging economies. Second, the authors examine possible channels paving the way for the impact of Covid-19 on firms' performance and especially explore new channels associated with competition and short receivables. Third, the findings help to form the recommendations for Vietnamese firms, and the study could be replicated for other emerging countries under other similar infectious diseases-driven crises. Peer review The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2023-0072
Business · Economics · Emerging markets · Event study · Industrial organization · Originality · Pandemic · Political science · COVID-19 Pandemic Impacts · Firm Innovation and Growth · Working Capital and Financial Performance · Finance
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| Citations per year | 0.67 |
|---|---|
| Citation span | 2023 - 2024 (2) |
| Highly cited | No |