ABSTRACT
OBJECTIVE: The present study examines the effect of fiscal policies on firm survival for small-and-medium-sized enterprises in the cross-country level firm-level data. RESEARCH DESIGN: A propensity score matching analysis is utilised for the post-COVID-19 period firms by using the World Bank Enterprise Follow-up Surveys for the pandemic period. Small-and-medium-sized enterprises are essential to the economy; firm failures can increase in a pandemic. RESULTS: The obtained findings show that the effect of fiscal policies has an essential effect on small-and-medium-sized enterprises survival in the COVID-19 pandemic period by using a cross-country heterogenous firm-level sample. CONCLUSIONS: In this context, the present study shed new light on the link between COVID-19-related fiscal policies and small-and-medium-sized firm survival in developing countries.
Subject(s)
COVID-19 , Fiscal Policy , Humans , Pandemics , Surveys and QuestionnairesABSTRACT
Bu çalışmada gıda sektöründe yer alan firmaların finansal performansı, finansal rasyolar üzerinden COVID-19 öncesi ve COVID-19 dönemi ele alınarak Welch T testi eşliǧinde kapsamlı bir şekilde analiz edilmektedir. Gıda imalat sanayinde yer alan ve BÍST'e kote olan firmalara ait finansal rasyolar diǧer imalat sanayi firmaları ile karşılaştırmalı olarak ele alınmaktadır. Bu çerçevede gıda firmalarının kısa ve uzun dönemli finansal performansı diǧer imalat sanayi firmaları ile karşılaştırmalı olarak COVID-19 öncesi ve sonrası karşılaştırmalı olarak analiz edilmektedir. Elde edilen sonuçlar gıda firmalarının firma performansı anlamında bir farklılaşmanın olmadıǧını, kısa vadeli finansal performans anlamında bir farklılaşmanın olduǧunu göstermektedir. Dolayısıyla bu çalışma gıda sektörü çerçevesinde COVID-19'un etkilerini karşılaştırmalı araştırarak, Türkçe mevcut literatüre bu çerçevede katkı saǧlamayı hedeflemektedir.Alternate :In this study, the financial performance of the companies in the food industry is analyzed comprehensively by considering the pre-COVID-19 and COVID-19 periods through financial ratios, accompanied by the Welch T-test. The financial ratios of the companies in the food manufacturing industry listed on the BIST are discussed compared to other manufacturing industry companies. In this context, the short and long-term financial performance of food companies is analyzed compared to other manufacturing industry companies before and after COVID-19. The results obtained show that there is no differentiation in terms of firm performance of food companies but differentiation in terms of shortterm financial performance. Therefore, this study aims to contribute to the existing Turkish literature by comparatively researching the effects of COVID-19 within the framework of the food sector.
ABSTRACT
In the present study, we examine the effect of government fiscal policy on firm risk in the post-COVID-19 period for an emerging market: Turkey. By doing so, we utilize a propensity score matching method to examine the effect of the short-term working allowance, which is a unique short-term COVID-19 mitigation policy for the Turkish economy, on firm risk. The obtained findings show that the effect of short-term working allowances on firm risk is efficient at mitigating the effect of COVID-19. Our results are also robust as to different robustness checks.