Naslov
Performance of Slovenian Listed Firms during Covid-19 Out-break

Autori
Pavić Kramarić, Tomislava

Izvornik
International Journal of Economic Sciences (1804-9796) XII (2023), 1; 163-177

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
firm performance ; dynamic panel analysis ; Tobin’s Q ; ROA, ROE ; listed firms, COVID-19, Slovenia

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA