PERFORMANCE OF SLOVENIAN LISTED FIRMS DURING COVID-19 OUT-BREAK

被引：0

作者：

Kramaric, Tomislava Pavic ^{[1
]}

机构：

[1] Univ Split, Univ Dept Forens Sci, Split, Croatia

来源：

INTERNATIONAL JOURNAL OF ECONOMIC SCIENCES | 2023年 / 12卷 / 01期

关键词：

firm performance; dynamic panel analysis; Tobin's Q; ROA; ROE; listed firms; COVID-19; Slovenia; RESEARCH-AND-DEVELOPMENT; CORPORATE GOVERNANCE; EMPIRICAL-EVIDENCE; CAPITAL STRUCTURE; BOARD SIZE; IMPACT; DETERMINANTS; PROFITABILITY; OWNERSHIP; LEVERAGE;

D O I：

10.52950/ES.2023.12.1.008

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This research aims to estimate the determinants of firm performance during the COVID-19 pandemic. For this purpose, the sample of Slovenian non-financial listed firms operating in the period 2017 - 2021 is used. Firm performance is expressed with market-based as well as accounting-based performance measures, including Tobin's Q, ROA, and ROE, while potential determinants encompass several firm-oriented variables. These are the firm size, liquidity expressed with the current ratio, leverage, tangibility, sales growth, age of the firm as well as COVID-19 dummy variable. The results of dynamic panel analysis disclose that liquidity, leverage, sales growth, and COVID-19 dummy are statistically significant in explaining firm performance. Specifically, liquidity and leverage are found to be significant in explaining Tobin's q, sales growth is a statistically significant determinant of both ROA and ROE while the latter is also negatively impacted by leverage and the COVID-19 dummy.

引用

页码：163 / 177

页数：15

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