Market Warnings: Learning from the Short-Term Impact of COVID-19 on Stock Market Constituents

Purpose: The paper investigated the short-term impact of the lockdown announcement due to COVID-19 on various industries in India using firms' stock returns and credit ratings. Design/Methodology: The paper used event study methodology to analyze abnormal returns on stocks and credit rating changes of firms following the lockdown to understand the impact on the debt servicing of firms. Findings: The paper found a heterogeneous impact of lockdown on various industries. Pharmaceuticals, chemicals, FMCGs, and telecom sectors saw positive abnormal returns, while textiles, financial services, construction, services, cement, and automobile sectors were the worst affected. The paper also found that smaller companies were more susceptible to the effects of such lockdowns. Indian subsidiaries of foreign MNCs and Central Government-owned firms fared better than privately-owned domestic firms. The debt servicing ability of firms was unimpacted due to the debt relief package announced to mitigate the impact of the lockdown. Practical Implications: The paper's findings have implications for investors and managers who can make informed decisions in advance to reduce the risk to their investment if such a black swan event is expected. The paper's findings could help policymakers identify sectors that require immediate support due to the disruption from such an event. Originality: The paper is unique in investigating the impact of the lockdown due to COVID-19 on companies across different industries, with different ownership groups and sizes. We have not come across such a detailed study investigating the impact of COVID-19 on various industries in India. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.

Impact of COVID-19 on food outlets: symmetric or asymmetric? A case study of Amritsar

Purpose>The present study is an intra-industry analysis, which aims to investigate whether the impact of COVID-19 on employment level, clientele rate, liquidity constraints and sustainability aspect of different food outlets is symmetric or asymmetric in nature.Design/methodology/approach>With the help of well-structured questionnaire, the study has surveyed 80 food outlets in total by interviewing the managers and owners of these outlets. Food outlets have been classified into four categories namely international, national, local and street food outlets. Econometric techniques like MANOVA and Garret ranking have been employed to fulfil the objective of the study.Findings>The results depict that the impact of COVID-19 on employment level and liquidity constraints is significantly asymmetric amongst different groups of food outlets, even though the decline in extent of clientele is somewhat same for all groups. The survival aspect of outlets also witnesses clear-cut asymmetry in results as big outlets have greater potential to survive for longer if lockdown happens again when compared to street food outlets as their financial availability and stability differ.Research limitations/implications>The sample size of study is restricted, mainly due to lesser number of national franchise's food outlets available in Amritsar, though other categories of eateries were sufficient in number. Further, the study is restricted only to one district of Punjab state, whereas for future research, inter-district comparison can be done.Practical implications>The findings reveal that the street food outlets may gain by fostering its online functioning. Similarly national food outlets are encouraged to alter their business strategies to revive their sales against their competitors.Originality/value>This study is one of the explorer studies to analyse the impact of COVID-19 by making an intra-industry comparison for the eatery industry – considering four different categories of eateries. The classification of eateries helps in analysing whether the employment level, clientele rate, liquidity constraints and survival perspective have been affected symmetrically for the whole eateries industry or does severity of being affected differ asymmetrically. The study makes a contribution by adding a new string of dimension to the existing load of literature in the domain of hospitality.

Visualization of Parallel Coordinates Based on Comprehensive Index Evaluation of Media Platforms and Economic Psychology

After experiencing problems such as shutdown and limited offline activities caused by the COVID-19 pandemic, various industries have taken the initiative to take self-help measures such as Internetization, which makes the industry economy change significantly in the post-pandemic era and makes it necessary to re-evaluate the industry economic pattern. However, online public opinion is diverse and platform content is complex. Therefore, it is essential to observe economic activities from the network information platform and complete the screening and purification of information. In order to improve the degree of quantification, and deepen the understanding of data, this paper solves the above problems through parallel coordinate visualization. At the same time, the lines in the parallel axis are used to indicate the amount and specific trend of industry information, which not only reflects the role of parallel coordinate visualization methods in industry dynamic analysis and real-time display but also makes industry development forecasts more feasible. © 2022 The authors and IOS Press.

Strategic Analysis of Financial and Operational Data During a Global Economic Crisis: Lessons from the COVID-19 Pandemic

Assessing the operational efficiency and financial health of a company, from a Strategic Management perspective, is a major challenge even during normal times. The economic crisis and its associated uncertainties, caused by the Covid-19 pandemic, have made these challenges even more daunting for business students, faculty, and professional analysts alike. In this paper, we first review the broad impact that the pandemic has inflicted on the industrial and economic climate globally. We then take an in-depth look at two representative industries and analyze how they have been impacted by the crisis. Specifically, we look at the airlines industry and the restaurants and food delivery industry, by reviewing and interpreting a select set of financial and operational metrics pre-crisis, during a crisis, and the post / recovery stages of a crisis. We look at performance indicators in these two industries and identify which metrics might provide us with the sharpest insights on the future performance of companies in these industries. We also provide more general guidelines for analysis of companies across other industries, their inter-connectedness, and the ecosystems that they operate in.

Editorial Introduction

Valentina Peleckiene and her research team observed and analyzed how economic growth of EU countries is accompanied by growth of motorization rate and fatalities during the last decades in terms of inventory number of motor vehicles and accidents in road traffic. The study by Oleksandr Klymchuk et al. highlights the historical processes, current trends, and prospects for the production and consumption of biodiesel in the world;modern approaches to the formation, development, and support of biodiesel production in the European Union are outlined;the economic efficiency of biodiesel production in Ukraine from different types of raw materials (rapeseed, sunflower, soybean) is considered, and modern approaches to efficient biodiesel production in Ukraine and perspective directions of formation of raw material base for the increase of biodiesel production are offered. The analytical study of Tetiana Prylipko's team is examining the search and development of effective ways to reduce the proportion of grain in feed due to non-grain raw materials and partial or complete replacement of such high-value ingredients as animal proteins, fats, phosphatides, macro-and micronutrients, and vitamin-mineral premixes through the use of natural resources of the local raw material base. In the research by Pavlina Fuhelo et al., an evaluation model of the sufficiency of financial support for territorial communities of Ukraine is considered and a ranked series of territorial units is constructed;the problems of the financial support system for territorial communities due to the existence of post-conflict and temporarily occupied territories are identified, and directions for improving the financial provision of territorial communities are proposed and alternative sources of funds for the budgets of territorial communities are considered.