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Book part
Publication date: 21 January 2022

Ayberk Şeker

The COVID-19 outbreak occurred in Wuhan region of China has significantly affected the exports and production of countries. Digitalization and technological developments have…

Abstract

The COVID-19 outbreak occurred in Wuhan region of China has significantly affected the exports and production of countries. Digitalization and technological developments have increased with the Industry 4.0, and COVID-19 measures accelerated this process. In this study, the impacts of COVID-19 pandemic have been investigated on international trade and production in European countries and Turkey. Accordingly, the cointegration relations between variables were examined with Westerlund panel cointegration test. As a result of the cointegration test, it is determined that there are long-term relationships between variables. The causality relationships between variables are analyzed with the Dumitrescu–Hurlin panel causality test. Causality analyses show that there is a unidirectional causality relationship from COVID-19 cases and deaths to export, while there is a unidirectional causality relationship from COVID-19 cases to production. The empirical findings demonstrate that COVID-19 outbreak has a significant impact on production and export processes in European countries and Turkey.

Book part
Publication date: 23 May 2022

Felicia O. Olokoyo, Rowland E. Worlu, Valerie Onyia Babatope and Oghenekparobo E. Agbogun

This chapter examined the financial effects of COVID-19 pandemic on the Nigerian tourism by disaggregating the tourism sector into transportation industry, accommodation industry…

Abstract

This chapter examined the financial effects of COVID-19 pandemic on the Nigerian tourism by disaggregating the tourism sector into transportation industry, accommodation industry, travelling agencies, resorts/tourist site and regulatory agencies. Specifically, this study only targeted 240 key players in the Nigerian Tourism sector in Lagos state while the sourced data were analysed using Pearson correlation analysis. The result revealed that the emergence of COVID-19 pandemic has a negative statistical influence on both the transportation and accommodation industry. The financial implication of this result is that the emergence of COVID-19 pandemic increased the cost of transport, sharply reduced revenue inflow into the transportation and accommodation industry Again, the emergence of COVID-19 pandemic exerted positive significant influence on Travel agency and resort/tourist site. However, the emergence of COVID-19 pandemic exerted positive insignificance influence on regulatory agency. Hence, the study concluded that the emergence of the COVID-19 pandemic increased the cost of transport, sharply reduced revenue inflow into accommodation industry, increased travel agency and resort/tourist site costs. Premised on this, the study recommends that the federal government should ensure that the cost of transportation is subsidized, as this would help to correct the negative effect of COVID-19 on the Nigerian transportation industry.

Details

COVID-19 in the African Continent
Type: Book
ISBN: 978-1-80117-687-3

Keywords

Article
Publication date: 13 March 2024

Larelle Chapple, Lien Duong and Thu Phuong Truong

The purpose of this research note is to investigate the drivers and market reaction to firms’ decision to release general COVID-19-related announcements and to withdraw earnings…

Abstract

Purpose

The purpose of this research note is to investigate the drivers and market reaction to firms’ decision to release general COVID-19-related announcements and to withdraw earnings forecasts and dividends during the COVID-19 pandemic in the continuous disclosure environment of Australia.

Design/methodology/approach

The authors first tracked the market reaction of all firms in the Australian Securities Exchange All Ordinaries, Top 300, Top 200 and Top 100 indices during the early period of the COVID-19 pandemic between 1 January and 21 September 2020. The authors then focus the investigation on the incidence of firms deciding to withdraw earnings forecasts and dividends and how the market responded to these incidences during that period.

Findings

The market reacted negatively during the March/April 2020 period but then bounced back to the pre-March 2020 level. The market reaction is mainly driven by three industries, including consumer discretionary, health care and utilities. Firms in industry sectors such as consumer discretionary, materials, health care and information technology contribute to the highest percentage of COVID-19 announcements. It is interesting to document that firms issuing COVID-19 announcements and withdrawing earnings forecasts and dividends tend to be larger firms with stronger financial performance and higher financial leverage. Regarding the stock market reaction, while the market generally reacted positively to COVID-19-related announcements, the decision to withdraw earnings forecasts and dividends is significantly regarded as bad news.

Originality/value

The COVID-19 pandemic has provided a unique natural event to examine firms’ disclosure behaviour in the continuous disclosure environment of Australia during this period of extreme uncertainty. The incidences of earnings forecasts and dividend withdrawals are mainly driven by larger, better performing and higher leverage firms in the consumer discretionary, health care, materials and information technology industry sectors. The market generally reacted favourably to COVID-19-related announcements, despite a significant stock price drop during the March/April 2020 period. The findings provide important regulatory and practical implications.

Details

Pacific Accounting Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0114-0582

Keywords

Article
Publication date: 19 March 2024

Rizwana Hameed, Naeem Akhtar and Anshuman Sharma

Utilizing the theoretical foundation of the stimulus-organism-response framework, the present work developed and investigated a conceptual model. The work explores the effects of…

Abstract

Purpose

Utilizing the theoretical foundation of the stimulus-organism-response framework, the present work developed and investigated a conceptual model. The work explores the effects of perceived risk of COVID-19 on tourists' choice hesitation and choice confidence. Furthermore, it examines the impacts of choice hesitation and choice confidence on psychological distress, which, in turn, influences purchase intentions and risk-protective behavior. Additionally, the study assesses the boundary effects of vulnerability on the association between choice hesitation, choice confidence, and psychological distress.

Design/methodology/approach

An online survey was administered in China during COVID-19 to assess the postulated hypotheses. We collected 491 responses using purposive sampling, and covariance-based structural equation modeling (CB-SEM) was performed to investigate the relationships.

Findings

Results show that the perceived risk of COVID-19 positively influences the choice hesitation and negatively impact choice confidence. It was also found that choice hesitation and choice confidence positively developed psychological distress, which, in turn, negatively triggered purchase intentions and positively developed risk-protective behavior. Additionally, perceived vulnerability had a significant moderating impact on the proposed relationships, strengthening psychological distress.

Originality/value

In the current context, this study measures bipolar behavioral outcomes using the S-O-R model. Because cognitive processes influence participation in health preventative behavior during the spread of diseases, we highlighted how the perception of risk and vulnerability to a pandemic serves as a reliable indicator of certain behaviors. This study advances understanding of how the psychological mindset of tourists copes with such circumstances. Due to the pandemic, tourists face limitations in their choices and are placing greater emphasis on adopting protective measures to mitigate associated risks.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 25 March 2024

Suzan Dsouza, Narinder Pal Singh and Johnson Ayobami Oliyide

This study analyses the impact of the Covid-19 on stock market performance of BRICS nations together. BRICS countries comprise almost 30% of the global GDP and around 50% of the…

Abstract

Purpose

This study analyses the impact of the Covid-19 on stock market performance of BRICS nations together. BRICS countries comprise almost 30% of the global GDP and around 50% of the world’s economic growth. As BRICS nations have gained the attraction as financial investment destinations, their financial markets have apparently been as potential opportunities for foreign portfolio investors. While there is extensive research on the impact of the Covid-19 pandemic on individual economies and global financial markets, this paper is among the first to systematically investigate the dynamic connectedness of these emerging economies during the pandemic using the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach.

Design/methodology/approach

We categorise our data into two distinct periods: the pre-Covid period spanning from January 1, 2018, to March 10, 2020, and the Covid crisis period extending from March 11, 2020, to June 4, 2021. To achieve our research objectives, we employ the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach to assess dynamic connectedness.

Findings

Our findings reveal that among the BRICS nations, Brazil and South Africa serve as net transmitters of shocks, while China and India act as net receivers of shocks during the Covid crisis. However, the total connectedness index (TCI) has exhibited a notable increase throughout this crisis period. This paper makes several notable contributions to the academic literature by offering a unique focus on BRICS economies during the Covid-19 pandemic, providing practical insights for stakeholders, emphasising the importance of risk management and investment strategy, exploring diversification implications and introducing advanced methodology for analysing interconnected financial markets.

Research limitations/implications

The results have important implications for the investors, the hedge funds, portfolio managers and the policymakers in BRICS stock markets. The investors, investment houses, portfolio managers and policymakers can develop investment strategies and policies in the light of the findings of this study to cope up the future pandemic crisis.

Originality/value

This study is one of its kind that examines the dynamic connectedness of BRICS with recently developed TVP-VAR approach across pandemic crisis.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 26 March 2024

Zainab Zahra, Ali Raza Elahi, Waqas Khan, Bilal Mehmood and Muhammad Sohail

The COVID-19 pandemic has caused widespread disruptions to global industries, with the textile sector in South Asia being particularly hard hit. While previous studies have…

Abstract

Purpose

The COVID-19 pandemic has caused widespread disruptions to global industries, with the textile sector in South Asia being particularly hard hit. While previous studies have focused on the performance of textile sectors in individual countries, there is a gap in the literature on the comparative impact of the pandemic on the textile industry in South Asian nations. This study aims to fill this gap by investigating the performance of the textile sector in South Asian countries and identifying best practices for overcoming the pandemic’s adverse effects.

Design/methodology/approach

Using a comparative approach, this study analyzes the impact of COVID-19 on the performance of the textile sector in Pakistan, India and Bangladesh.

Findings

Our findings reveal that COVID-19 significantly negatively impacts the textile industry in Pakistan and India. However, Bangladesh has shown effective practices to support the textile industry and mitigate the pandemic’s adverse effects.

Practical implications

The findings of this study hold considerable implications for legislators, leaders, investors and supply chain management professionals operating within the South Asian textile sector. This research has the potential to inform policymakers in formulating strategies to facilitate the textile sector’s resilience during emergencies like the COVID-19 pandemic.

Originality/value

This paper provides significant theoretical additions to the current body of literature regarding the impact of COVID-19 on the textile sector in South Asia. The research uses the global value chain (GVC) theory as a theoretical framework to enhance understanding of the impact of global supply chains and interdependencies on the textile sector in the region.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 22 March 2024

Sachin Gupta, Sakshi Goel, Santosh Kumar and Gaurav Nagpal

The purpose of the study is to analyze and measure the impact of disruption in demand which causes the bullwhip effect. The bullwhip effect impacts the performance of firm. Just…

Abstract

Purpose

The purpose of the study is to analyze and measure the impact of disruption in demand which causes the bullwhip effect. The bullwhip effect impacts the performance of firm. Just like everything else, covid has had an impact on the disruption of supply chain too leading to the need of measuring the bullwhip effect of select Indian sectors. The comparison on bullwhip effect is drawn in pre- and during covid era in major sectors. The study helps to understand, analyze and measure the impact of covid and its challenges to supply chain.

Design/methodology/approach

The empirical study is carried out on five major select Indian sectors which have the largest market capitalization in Indian economy, namely, FMCG (fast-moving consumer goods), automobile, utility, consumer durable and IT (information technology). The disruption in the supply chain is measured in terms of bullwhip effect. The novel metric ratio of bullwhip effect is computed which is based on demand–supply mismatch and analyzed based on 10 years of observations. The data is analyzed twice, first from 2011 to 2019 (pre-covid era) and second from 2019 to 2021 (during covid era). Each time, Bombay Stock Exchange (BSE) sectoral indices are used to compute the bullwhip ratio, and empirical data is collected using Prowess. The firms listed in BSE represent most of the sector. Such panel data helps us to analyze inter- and intraindustry bullwhip effect. The changes in the bullwhip effect for various BSE listed firms are analyzed pre- and during covid era. These changes are specifically studied at the manufacturer end of the supply chain. Later regression analysis is performed to study the changes required in production based on the demand. The various strategies that cause or mitigate the impact of covid in intraindustry can be derived from the study. The disruption in production is analyzed based on the disruption in demand and profit before interest and tax (PBIT).

Findings

In pre-covid era, the percentage of demand disruption was low in select sectors but not exactly zero. Covid caused the disruptions in supply chain across the globe which resulted in bullwhip effect in Indian sectors too. Yet some of the sectors were able to cope better with the situation as compared to others. In the present study, same is analyzed statistically, and results are derived for practical significance.

Research limitations/implications

The empirical data is having the observations of past 10 years to analyze the pattern of demand disruption in the firms and hence the sectors. The impact of covid is studied on performance, which is analyzed in terms of PBIT. The impact of other factors (political, social, marketing policies, etc.) that may cause disruption in the supply chain of a firm is not considered in the study.

Originality/value

Study is unique, as it measures disruption and provides a peerless way to study the inter- and intrasectors. To analyze the impact of bullwhip effect on sector performance, it is very much required to first measure the bullwhip; this measure of bullwhip as a ratio of the slopes of demand and supply is a novel approach. The study emphasizes that the impact of covid is not the same among the firms, and hence among the sectors. Also, it is found that the impact of such adversities can be mitigated, and performance of firm can remain intact in turbulent times too.

Details

Journal of Global Operations and Strategic Sourcing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-5364

Keywords

Article
Publication date: 22 March 2024

Jiyoung Lee and Jihyang Choi

Misperceptions hinder our ability to effectively respond to health crises such as the COVID-19. We aimed to examine the dynamic influences between information exposure…

Abstract

Purpose

Misperceptions hinder our ability to effectively respond to health crises such as the COVID-19. We aimed to examine the dynamic influences between information exposure, information trust and misperceptions during the early phase of the COVID-19 pandemic. Specifically, we focused on the relative influence of exposure to COVID-19-related information via social media versus interpersonal offline communication.

Design/methodology/approach

The current study conducted a two-wave national survey of US adults in May and June of 2020 with a two-week time interval. A professional polling firm recruited participants, and 911 and 679 respondents participated in the first and the second wave survey, respectively. To test proposed hypotheses, researchers conducted path analyses using AMOS 27.0.

Findings

Findings show that individuals exposed to COVID-19-related information via social media are likely to hold increased misperceptions. In contrast, exposure to COVID-19-related information offline did not elicit any effects on misperceptions. The exposure to information on social media was positively associated with trust in that information, which, in turn, contributed to an increase in misperceptions. Furthermore, when examining the effects of misperception, it was found that misperceptions increased the likelihood of individuals being exposed to and having trust in COVID-19-related information on social media. The findings provide valuable insights into the role of social media as a platform where a detrimental cycle thrives, shaping the formation of misperceptions and cultivating a heightened dependence among individuals with elevated misperceptions.

Originality/value

The current study significantly extends the findings of prior research by examining the differential effects of social media and interpersonal communication offline on misperception and by revealing the intricate dynamics between information exposure and misperception by focusing on the role of trust. The findings emphasize the detrimental role of social media in generating a vicious information cycle. That said, seemingly superficial discussions about health crises within a social media environment rich in misinformation can contribute to fueling a self-reinforcing loop, making it challenging to effectively counteract misperceptions.

Details

Online Information Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1468-4527

Keywords

Article
Publication date: 23 February 2024

Anju Goswami and Pooja Malik

The novel coronavirus (COVID-19) has caused financial stress and limited their lending agility, resulting in more non-performing loans (NPLs) and lower performance during the II…

Abstract

Purpose

The novel coronavirus (COVID-19) has caused financial stress and limited their lending agility, resulting in more non-performing loans (NPLs) and lower performance during the II wave of the coronavirus crisis. Therefore, it is essential to identify the risky factors influencing the financial performance of Indian banks spanning 2018–2022.

Design/methodology/approach

Our sample consists of a balanced panel dataset of 75 scheduled commercial banks from three different ownership groups, including public, private and foreign banks, that were actively engaged in their operations during 2018–2022. Factor identification is performed via a fixed-effects model (FEM) that solves the issue of heterogeneity across different with banks over time. Additionally, to ensure the robustness of our findings, we also identify the risky drivers of the financial performance of Indian banks using an alternative measure, the pooled ordinary least squares (OLS) model.

Findings

Empirical evidence indicates that default risk, solvency risk and COVAR reduce financial performance in India. However, high liquidity, Z-score and the COVID-19 crisis enhance the financial performance of Indian banks. Unsystematic risk and systemic risk factors play an important role in determining the prognosis of COVID-19. The study supports the “bad-management,” “moral hazard” and “tail risk spillover of a single bank to the system” hypotheses. Public sector banks (PSBs) have considerable potential to achieve financial performance while controlling unsystematic risk and exogenous shocks relative to their peer group. Finally, robustness check estimates confirm the coefficients of the main model.

Practical implications

This study contributes to the knowledge in the banking literature by identifying risk factors that may affect financial performance during a crisis nexus and providing information about preventive measures. These insights are valuable to bankers, academics, managers and regulators for policy formulation. The findings of this paper provide important insights by considering all the risk factors that may be responsible for reducing the probability of financial performance in the banking system of an emerging market economy.

Originality/value

The empirical analysis has been done with a fresh perspective to consider unsystematic risk, systemic risk and exogenous risk (COVID-19) with the financial performance of Indian banks. Furthermore, none of the existing banking literature explicitly explores the drivers of the I and II waves of COVID-19 while considering COVID-19 as a dependent variable. Therefore, the aim of the present study is to make efforts in this direction.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 22 February 2024

Ethlyn A. Williams, Kate M. McCombs, Rajnandini Pillai and Kevin B. Lowe

This research aims to examine the influence of Chief Executive Officer (CEO) dark triad traits, follower COVID-19 anxiety and self-leadership on follower evaluations of the…

Abstract

Purpose

This research aims to examine the influence of Chief Executive Officer (CEO) dark triad traits, follower COVID-19 anxiety and self-leadership on follower evaluations of the effectiveness of organizations’ response to the COVID-19 pandemic crisis.

Design/methodology/approach

In this paper data were collected over two time periods. At time 1, mid-October 2021, 650 participants responded to questions on their CEO’s leadership traits and self-leadership. At time 2, (3-week lag) 275 matched individual responses provided followers’ evaluations of the effectiveness of the organization’s COVID-19 response and follower self-leadership.

Findings

CEO dark triad traits had direct and indirect negative effects on followers’ evaluations of the organization’s COVID-19 response (through COVID-19 anxiety). Follower self-leadership mitigated the negative effects.

Research limitations/implications

By examining the moderating role of self-leadership, we can offer organizations evidence-based strategies to mitigate some harmful effects of leaders exhibiting dark triad traits.

Practical implications

Given that organizations are still dealing with the ongoing ramifications of COVID-19 and planning for future crises, our findings emphasize the negative effects of dark traits on COVID-19 anxiety, and in turn, on follower’s evaluation of effective organization response to a crisis, highlighting the importance of top-level leader selection.

Social implications

Our results bolster Manz’s (1986) argument that self-leadership might be key to achieving peak performance in organizations and important for follower well-being.

Originality/value

This study of dark traits is especially important in a crisis context to understand how leaders affect followers’ perceptions about organizational outcomes and factors that might mediate or moderate the negative impact. Despite interest in understanding leadership during a crisis, the majority of research is focused on positive traits of leaders (Palmer et al., 2020).

Details

Journal of Managerial Psychology, vol. 39 no. 2
Type: Research Article
ISSN: 0268-3946

Keywords

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