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  • 1
    Online Resource
    Online Resource
    Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    almafu_9960054844602883
    Format: 1 online resource (49 pages)
    Series Statement: Policy research working papers.
    Content: This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian "cleansing" of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis, suggesting that the process of cleansing out unproductive arrangements may be at work. The paper also uncovers a strong and negative relationship between firm exit and innovation and digital presence, especially for small firms, confirming the relevance of the ability to adapt to market conditions as a determinant of firm survival. Finally, the study finds evidence of a negative relationship between firm exit and a burdensome business environment, as well as between firm exit and age.
    Language: English
    DOI: 10.1596/1813-9450-9671
    URL: Deutschlandweit zugänglich
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 2
    Online Resource
    Online Resource
    Does Better Access to Finance Help Firms Deal with the COVID-19 Pandemic? : Evidence from Firm-Level Survey Data (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    almafu_9960054842602883
    Format: 1 online resource (73 pages)
    Series Statement: Policy research working papers.
    Content: The advent of the novel coronavirus (COVID-19) pandemic has led to a severe liquidity crunch among private firms. Yet, formal analysis of the impact of a liquidity crunch or access to finance on the performance of firms during the pandemic is limited. The present paper estimates the impact of access to finance in the period before the pandemic on the likelihood of a decline in sales of the firm during the pandemic. The results show a strong connection between the two. That is, firms with better access to finance are significantly less likely to experience a decline in sales, and this relationship is highly heterogenous. First, better access to finance reduces the likelihood of a decline in sales much more for firms that have a stronger long-standing relationship with important stakeholders such as skilled workers and input suppliers. These are firms that use more skilled relative to unskilled workers, firms in industries with a more complex network of input suppliers, and firms in countries where the cost of enforcing contracts with new input suppliers is high. Second, the impact of access to finance is less among firms that use more women relative to men workers. This is especially so in countries or societies that accord a higher value to women's caregiving role than to their work outside the home. The paper argues that both of these heterogeneities are along expected lines and derive from the specific ways in which access to finance benefits firms in fighting the pandemic. Thus, they help to raise confidence against endogeneity concerns about the main results.
    Language: English
    DOI: 10.1596/1813-9450-9697
    URL: Deutschlandweit zugänglich
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 3
    Online Resource
    Online Resource
    The Evolving Effect of COVID-19 on the Private Sector
    World Bank, Washington, DC
    Details
    UID:
    gbv_1780653433
    Format: 1 Online-Ressource
    Series Statement: Global Indicators Briefs No. 1
    Content: This brief provides a descriptive analysis of the evolving effect of the COVID-19 (coronavirus) pandemic on the private sector of 40 countries. It focuses on the essential aspects of business operations: namely, firms' survival, production of goods and services, and jobs. Firms have suffered massive demand and supply shocks, affecting nearly all sectors. These shocks and the consequent drop in revenues have dried up firms' cash flows, depleting their working capital and putting the private sector under considerable financial distress. This brief also examines the effect of the pandemic on firms' liquidity, providing general assessments of the variation of these effects by country income level and firm characteristics. Firms in lower-income countries seem to have been hit harder across several measures, such as declines in sales and the incidence of overdue financial obligations. Within countries, small and medium-sized enterprises (SMEs) with 5 to 99 employees seem to have fared more poorly than large firms. While some signs of a recovery in terms of sales and capacity utilization are emerging, the recovery is fragile, as it bypasses important aspects such as liquidity and job creation. For a full post-pandemic recovery, it is important that sound businesses that are facing a temporary liquidity problem survive, and the workforce rebounds
    Note: English
    Language: English
    URL: kostenfrei
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Stabi Berlin
  • 4
    Online Resource
    Online Resource
    Does Better Access to Finance Help Firms Deal with the COVID-19 Pandemic? : Evidence from Firm-Level Survey Data (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    edoccha_9960054842602883
    Format: 1 online resource (73 pages)
    Series Statement: Policy research working papers.
    Content: The advent of the novel coronavirus (COVID-19) pandemic has led to a severe liquidity crunch among private firms. Yet, formal analysis of the impact of a liquidity crunch or access to finance on the performance of firms during the pandemic is limited. The present paper estimates the impact of access to finance in the period before the pandemic on the likelihood of a decline in sales of the firm during the pandemic. The results show a strong connection between the two. That is, firms with better access to finance are significantly less likely to experience a decline in sales, and this relationship is highly heterogenous. First, better access to finance reduces the likelihood of a decline in sales much more for firms that have a stronger long-standing relationship with important stakeholders such as skilled workers and input suppliers. These are firms that use more skilled relative to unskilled workers, firms in industries with a more complex network of input suppliers, and firms in countries where the cost of enforcing contracts with new input suppliers is high. Second, the impact of access to finance is less among firms that use more women relative to men workers. This is especially so in countries or societies that accord a higher value to women's caregiving role than to their work outside the home. The paper argues that both of these heterogeneities are along expected lines and derive from the specific ways in which access to finance benefits firms in fighting the pandemic. Thus, they help to raise confidence against endogeneity concerns about the main results.
    Language: English
    DOI: 10.1596/1813-9450-9697
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    Charité
  • 5
    Online Resource
    Online Resource
    Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    edoccha_9960054844602883
    Format: 1 online resource (49 pages)
    Series Statement: Policy research working papers.
    Content: This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian "cleansing" of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis, suggesting that the process of cleansing out unproductive arrangements may be at work. The paper also uncovers a strong and negative relationship between firm exit and innovation and digital presence, especially for small firms, confirming the relevance of the ability to adapt to market conditions as a determinant of firm survival. Finally, the study finds evidence of a negative relationship between firm exit and a burdensome business environment, as well as between firm exit and age.
    Language: English
    DOI: 10.1596/1813-9450-9671
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    Charité
  • 6
    Online Resource
    Online Resource
    Does Better Access to Finance Help Firms Deal with the COVID-19 Pandemic? : Evidence from Firm-Level Survey Data (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    edocfu_9960054842602883
    Format: 1 online resource (73 pages)
    Series Statement: Policy research working papers.
    Content: The advent of the novel coronavirus (COVID-19) pandemic has led to a severe liquidity crunch among private firms. Yet, formal analysis of the impact of a liquidity crunch or access to finance on the performance of firms during the pandemic is limited. The present paper estimates the impact of access to finance in the period before the pandemic on the likelihood of a decline in sales of the firm during the pandemic. The results show a strong connection between the two. That is, firms with better access to finance are significantly less likely to experience a decline in sales, and this relationship is highly heterogenous. First, better access to finance reduces the likelihood of a decline in sales much more for firms that have a stronger long-standing relationship with important stakeholders such as skilled workers and input suppliers. These are firms that use more skilled relative to unskilled workers, firms in industries with a more complex network of input suppliers, and firms in countries where the cost of enforcing contracts with new input suppliers is high. Second, the impact of access to finance is less among firms that use more women relative to men workers. This is especially so in countries or societies that accord a higher value to women's caregiving role than to their work outside the home. The paper argues that both of these heterogeneities are along expected lines and derive from the specific ways in which access to finance benefits firms in fighting the pandemic. Thus, they help to raise confidence against endogeneity concerns about the main results.
    Language: English
    DOI: 10.1596/1813-9450-9697
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    FU Berlin
  • 7
    Online Resource
    Online Resource
    Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence (2021)
    Washington, D.C. :The World Bank,
    Details
    UID:
    edocfu_9960054844602883
    Format: 1 online resource (49 pages)
    Series Statement: Policy research working papers.
    Content: This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian "cleansing" of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis, suggesting that the process of cleansing out unproductive arrangements may be at work. The paper also uncovers a strong and negative relationship between firm exit and innovation and digital presence, especially for small firms, confirming the relevance of the ability to adapt to market conditions as a determinant of firm survival. Finally, the study finds evidence of a negative relationship between firm exit and a burdensome business environment, as well as between firm exit and age.
    Language: English
    DOI: 10.1596/1813-9450-9671
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    FU Berlin
  • 8
    Online Resource
    Online Resource
    Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence (2021)
    World Bank, Washington, DC
    Details
    UID:
    gbv_1780655746
    Format: 1 Online-Ressource
    Series Statement: Policy Research Working Paper No. 9671
    Content: This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian "cleansing” of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis, suggesting that the process of cleansing out unproductive arrangements may be at work. The paper also uncovers a strong and negative relationship between firm exit and innovation and digital presence, especially for small firms, confirming the relevance of the ability to adapt to market conditions as a determinant of firm survival. Finally, the study finds evidence of a negative relationship between firm exit and a burdensome business environment, as well as between firm exit and age
    Note: English
    Language: English
    URL: kostenfrei
    URL: kostenfrei
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Stabi Berlin
  • 9
    Online Resource
    Online Resource
    Does Better Access to Finance Help Firms Deal with the COVID-19 Pandemic? Evidence from Firm-Level Survey Data (2021)
    World Bank, Washington, DC
    Details
    UID:
    gbv_1780654421
    Format: 1 Online-Ressource
    Series Statement: Policy Research Working Paper No. 9697
    Content: The advent of the novel coronavirus (COVID-19) pandemic has led to a severe liquidity crunch among private firms. Yet, formal analysis of the impact of a liquidity crunch or access to finance on the performance of firms during the pandemic is limited. The present paper estimates the impact of access to finance in the period before the pandemic on the likelihood of a decline in sales of the firm during the pandemic. The results show a strong connection between the two. That is, firms with better access to finance are significantly less likely to experience a decline in sales, and this relationship is highly heterogenous. First, better access to finance reduces the likelihood of a decline in sales much more for firms that have a stronger long-standing relationship with important stakeholders such as skilled workers and input suppliers. These are firms that use more skilled relative to unskilled workers, firms in industries with a more complex network of input suppliers, and firms in countries where the cost of enforcing contracts with new input suppliers is high. Second, the impact of access to finance is less among firms that use more women relative to men workers. This is especially so in countries or societies that accord a higher value to women's caregiving role than to their work outside the home. The paper argues that both of these heterogeneities are along expected lines and derive from the specific ways in which access to finance benefits firms in fighting the pandemic. Thus, they help to raise confidence against endogeneity concerns about the main results
    Note: English
    Language: English
    URL: kostenfrei
    URL: kostenfrei
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Stabi Berlin
  • 10
    Online Resource
    Online Resource
    Female-Owned Firms during the COVID-19 Crisis (2021)
    World Bank, Washington, DC
    Details
    UID:
    gbv_1780651279
    Format: 1 Online-Ressource
    Series Statement: Global Indicators Brief No. 2
    Content: This brief use firm-level data collected between May 2020 and May 2021 in 41 countries, to provide descriptive evidence on the differential effect of the Coronavirus disease 2019 (COVID-19) crisis on female- and male-owned firms. Data suggest that while female-owned and male-owned businesses closed permanently at the same rates, female-owned firms were more likely to have temporarily closed during the crisis and to have closed for a longer duration. When able to stay in business, female-owned firms were more likely to experience a decrease in demand for their products or services and supply of intermediate inputs than male-owned firms. They also reduced the size of their workforce more than their male counterparts and were more likely to reduce hours worked. Finally, female-owned firms suffered deeper financial distress than male-owned firms. Nevertheless, female and male-owned firms show similar optimism of returning to normal levels of sales or workforce in the near future
    Note: English
    Language: English
    URL: kostenfrei
    URL: kostenfrei
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Stabi Berlin
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