2019-20 coronavirus outbreak

Health care

Virology

Economics

Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)

Outbreak

Business

Coronavirus disease 2019 (COVID-19)

Monetary economics

Infectious disease (medical specialty)

Internal medicine

Medicine

Healthcare system

Economic growth

Pandemic

Disease

Pathology

International Review of Economics & Finance

Using financial data on firms worldwide, we assess the impact of COVID-19 on corporate performance. We show that firm performance deteriorates during the COVID-19 pandemic. The adverse effects of COVID-19 on firm performance are less pronounced in countries with better healthcare systems, more advanced financial systems, and better institutions. Finally, uncertainty avoidance strengthens the adverse effect of the COVID-19 pandemic.

COVID-19 pandemic and firm performance: Cross-country evidence