Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.1922090
The impact of covid-19 on financial management: evidence from Romania
Monica Violeta Achim
Ioana Lavinia Safta
Viorela Ligia Văidean
Gabriela Mihaela Mureșan
Nicolae Sorin Borlea
Sažetak
The COVID-19 pandemic has disrupted every facet of life globally.
Business and commerce are key areas where the monetary crunch
has been acutely felt. This study aims to analyze the various key
changes in entities’ activities to evaluate the level of business performance in response to the COVID-19 pandemic. For this purpose, we use panel data analysis on 218 Romanian listed
companies of different sizes (big and small) and belonging to different business sectors for the period June 30, 2019–June 30,
2020. We find that the net profits of the overall market decreased
by 37.43% over the analyzed period. However, small companies
engaged in agriculture, commerce, construction, IT R&D, and
transport and storage witnessed better financial performance. In
addition, our results show that equity financing, proper liquidity
management, and an increased company size consolidate the
economic performance of entities regarding return on equity and
return on assets. Our findings are useful for policymakers such as
managers and investors and can help them make the best decision for their managing or investing activities. Moreover, governments need to know how companies respond to the pandemic
to identify the sectors of activity that are more vulnerable to the
crisis’ effects and the main financial management decisions that
must be adopted by companies during times of crises.
Ključne riječi
COVID-19; business performance; sectors; listed companies, Romania
Hrčak ID:
302239
URI
Datum izdavanja:
31.3.2023.
Posjeta: 885 *