Thorsten Beck, 11 August 2020

Survey responses from early April across nearly 500 listed firms in ten emerging markets reveal that the vast majority of firms have been negatively affected by COVID-19 and reacted by reducing investment rather than payrolls. Thorsten Beck (Cass Business School) talks to Tim Phillips about “COVID-19 in emerging markets: firm-survey evidence”, from Covid Economics, Vetted and Real-Time Papers 38, July .

Thorsten Beck, Burton Flynn, Mikael Homanen, 22 July 2020

Most of the evidence on firm-level impact of COVID-19 so far has been for advanced economies. Using survey responses from early April across nearly 500 listed firms in ten emerging markets, this column reveals that the vast majority of firms have been negatively affected by COVID-19 and reacted by reducing investment rather than payrolls. Moreover, it finds that there is a surprising degree of support vis-à-vis employees, customers, other stakeholders and broader society. Stakeholder-centric firms experienced lower stock price declines during the crisis drawdown.

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