Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data
Abstract
:1. Introduction
Description of the Survey and the Data Set
2. Research Methodology
3. Results
4. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
References
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Variable | Description |
---|---|
Man | 1 if it is a manufacturing company, 0 otherwise |
Retail | 1 if it is a retail company, 0 otherwise |
Service | 1 if it is an “other services” company, 0 otherwise |
SalesD | 1 if the sales decreased (comparing to the same month in 2019), 0 otherwise* |
ExportD | 1 if the exports decreased (comparing to the same month in 2019), 0 otherwise* |
DemandD | 1 if the demand decreased (comparing to the same month in 2019), 0 otherwise |
SupplyD | 1 if the supply decreased (comparing to the same month in 2019), 0 otherwise* |
CFD | 1 if the cash flow decreased (comparing to the same month in 2019), 0 otherwise* |
LCB | 1 if the primary aid source was a loan from a commercial bank, 0 otherwise |
LNB | 1 if the primary aid source was a loan from a non-banking financial institution, 0 otherwise |
EF | 1 if the primary aid source was equity finance, 0 otherwise |
DP | 1 if the primary aid source was delaying payments to suppliers or workers, 0 otherwise |
GG | 1 if the primary aid source was a government grant, 0 otherwise |
OBA | 1 if the company started or increased business activity online, 0 otherwise |
DA | 1 if the company started or increased delivery online, 0 otherwise |
RW | 1 if the company started or increased remote work, 0 otherwise |
TW | 1 if the company increased the number of temporary workers, 0 otherwise |
Developed | 1 if a developed country, 0 otherwise |
Developing | 1 if a developing country, 0 otherwise |
Sector | Remained Open | Temporarily Closed | Permanently Closed |
---|---|---|---|
Manufacturing | 90.2% | 5.9% | 4.0% |
Retail | 89.6% | 6.4% | 4.0% |
Other services | 84.1% | 10.7% | 5.2% |
Mean | Median | Mode | Coefficient of Variation | Skewness | Min. | Max. | 90th Percentile | |
---|---|---|---|---|---|---|---|---|
Decrease in Sales (in Percentage Points) | ||||||||
Manufacturing | 43.05 | 40 | 30 | 57.51 | 0.69 | 1 | 100 | 80 |
Retail | 46.83 | 40 | 50 | 55.98 | 0.45 | 1 | 100 | 90 |
Other services | 52.16 | 50 | 50 | 53.96 | 0.29 | 1 | 100 | 100 |
Number of laid-off workers | ||||||||
Manufacturing | 5.33 | 0 | 0 | 478.60 | 14.01 | 0 | 600 | 10 |
Retail | 3.30 | 0 | 0 | 677.43 | 21.12 | 0 | 600 | 6 |
Other services | 4.06 | 0 | 0 | 363.83 | 7.94 | 0 | 250 | 10 |
Variable | SalesD | ExportD | DemandD | SupplyD | ||||
---|---|---|---|---|---|---|---|---|
Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | |
Man | −0.022 (0.017) | 0.8057 | −0.934 (0.005) | 0.393 | −0.074 (0.308) | 0.928 | 0.060 (0.318) | 1.062 |
Retail | −0.074 (0.531) | 0.9281 | −0.461 (0.333) | 0.630 | 0.057 (0.558) | 1.059 | 0.081 (0.301) | 1.084 |
LCB | 0.132 (0.260) | 1.1409 | −0.680 (0.049) | 0.506 | 0.042 (0.666) | 1.043 | −0.021 (0.797) | 0.978 |
LNB | 0.452 (0.662) | 1.5719 | ** | −0.189 (0.766) | 0.828 | −0.357 (0.522) | 0.699 | |
EF | 0.447 (0.0000) | 1.5643 | −0.064 (0.859) | 0.937 | 0.316 (0.0003) | 1.375 | 0.052 (0.473) | 1.054 |
DP | 0.462 (0.0009) | 1.5878 | −0.488 (0.219) | 0.613 | 0.351 (0.0017) | 1.421 | 0.009 (0.913) | 1.010 |
GG | 0.235 (0.146) | 1.2644 | −0.382 (0.442) | 0.682 | 0.230 (0.099) | 1.258 | 0.171 (0.136) | 1.187 |
OBA | −0.029 (0.783) | 0.9714 | −0.106 (0.714) | 0.899 | 0.132 (0.132) | 1.141 | 0.096 (0.188) | 1.101 |
DA | −0.045 (0.667) | 0.9554 | 0.595 (0.086) | 1.813 | −0.140 (0.104) | 0.869 | 0.060 (0.411) | 1.062 |
RW | −0.034 (0.691) | 0.9658 | −0.364 (0.135) | 0.694 | −0.104 (0.147) | 0.901 | −0.130 (0.029) | 0.877 |
TW | −1.177 (0.0000) | 0.3080 | −1.747 (0.0000) | 0.174 | 1.068 (0.0000) | 0.344 | −0.861 (0.0000) | 0.422 |
Support | 0.224 (0.018) | 1.2514 | −0.219 (0.430) | 0.803 | 0.240 (0.003) | 1.271 | 0.096 (0.134) | 1.101 |
Developed | −0.599 (0.0000) | 0.5493 | 1.924 (0.0000) | 6.847 | −0.424 (0.0000) | 0.654 | −0.504 (0.0000) | 0.603 |
Developing | 0.476 (0.0003) | 1.6097 | 1.772 (0.0000) | 5.885 | 0.360 (0.0000) | 1.433 | 0.711 (0.0000) | 2.036 |
Obs. No. | 8735 | 4033 | 8520 | 8668 | ||||
R2 | 0.093 | 0.105 | 0.081 | 0.043 | ||||
cCor. pred. | 91.4% | 98% | 86.4% | 77.7% | ||||
LR test | 172.597 (0.0000) | 82.178 (0.0000) | 147.613 (0.0000) | 400.9 (0.0000) |
Variable | Manufacturing | Services | Retail | |||
---|---|---|---|---|---|---|
Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | |
LCB | 0.303 (0.063) | 1.354 | 0.061 (0.776) | 1.063 | −0.248 (0.365) | 0.780 |
LNB | −0.348 (0.745) | 0.705 | ** | ** | ||
EF | 0.429 (0.025) | 1.535 | 0.645 (0.002) | 1.906 | 0.198 (0.454) | 1.219 |
DP | 0.539 (0.005) | 1.715 | 0.321 (0.218) | 1.379 | 0.408 (0.204) | 1.504 |
GG | 0.156 (0.462) | 1.168 | 0.218 (0.491) | 1.244 | 0.468 (0.265) | 1.597 |
OBA | 0.101 (0.496) | 1.106 | −0.214 (0.268) | 0.807 | 0.012 (0.961) | 1.012 |
DA | 0.228 (0.142) | 1.256 | −0.158 (0.412) | 0.854 | −0.597 (0.011) | 0.550 |
RW | −0.0413 (0.723) | 0.959 | −0.177 (0.287) | 0.838 | 0.233 (0.303) | 1.262 |
TW | −0.836 (0.003) | 0.433 | −1.655 (0.000) | 0.191 | −1.400 (0.001) | 0.246 |
Support | 0.086 (0.493) | 1.090 | 0.637 (0.001) | 1.891 | 0.099 (0.663) | 1.104 |
Developed | −0.403 (0.007) | 0.667 | −1.068 (0.000) | 0.344 | −0.425 (0.111) | 0.653 |
Developing | 0.454 (0.005) | 1.575 | 0.476 (0.032) | 1.610 | 0.517 (0.050) | 1.677 |
Obs. No. | 4295 | 2820 | 1620 | |||
R2 | 0.024 | 0.062 | 0.041 | |||
Cor. pred. | 90.2% | 92.8% | 92.1% | |||
LR test | 66.535 (0.0000) | 91.55 (0.0000) | 36.948 (0.0001) |
Variable | Manufacturing | Services | Retail | |||
---|---|---|---|---|---|---|
Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | |
LCB | −0.847 (0.0371) | 0.428 | 0.088 (0.923) | 1.0925 | −1.568 (0.248) | 0.208 |
LNB | ** | ** | ** | |||
EF | −0.090 (0.834) | 0.913 | −0.272 (0.721) | 0.762 | 0.183 (0.896) | 1.201 |
DP | −0.782 (0.087) | 0.457 | 0.308 (0.790) | 1.360 | 0.240 (0.882) | 1.272 |
GG | −0.717 (0.203) | 0.488 | ** | −0.380 (0.824) | 0.683 | |
OBA | 0.303 (0.407) | 1.354 | −1.507 (0.036) | 0.222 | −0.491 (0.620) | 0.611 |
DA | 0.784 (0.078) | 2.191 | 1.064 (0.219) | 2.899 | −0.378 (0.677) | 0.684 |
RW | −0.300 (0.2831) | 0.740 | −0.183 (0.791) | 0.832 | −1.154 (0.236) | 0.315 |
TW | −1.690 (0.0009) | 0.184 | −1.602 (0.157) | 0.201 | −1.337 (0.298) | 0.262 |
Support | −0.011 (0.973) | 0.988 | −0.149 (0.843) | 0.861 | −1.908 (0.064) | 0.148 |
Developed | 1.713 (0.0000) | 5.548 | 2.815 (0.002) | 16.702 | 3.965 (0.001) | 52.756 |
Developing | 1.595 (0.0000) | 4.930 | 2.132 (0.004) | 8.440 | 3.045 (0.015) | 21.022 |
Obs. No. | 2340 | 1078 | 615 | |||
R2 | 0.081 | 0.173 | 0.317 | |||
Cor. pred. | 97.4% | 99.0% | 98.7% | |||
LR test | 45.528 (0.0000) | 21.178 (0.0199) | 27.061 (0.0045) |
Variable | Manufacturing | Services | Retail | |||
---|---|---|---|---|---|---|
Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | |
LCB | 0.017 (0.229) | 1.185 | 0.086 (0.621) | 1.09 | −0.450 (0.051) | 0.6376 |
LNB | −0.522 (0.564) | 0.5931 | −0.370 (0.734) | 0.691 | ** | |
EF | 0.341 (0.005) | 1.4069 | 0.425 (0.008) | 1.530 | 0.023 (0.915) | 1.023 |
DP | 0.523 (0.001) | 1.688 | 0.008 (0.967) | 1.008 | 0.408 (0.139) | 1.504 |
GG | 0.110 (0.553) | 1.1164 | 0.422 (0.116) | 1.525 | 0.246 (0.484) | 1.279 |
OBA | 0.220 (0.079) | 1.2465 | −0.111 (0.465) | 0.894 | 0.359 (0.092) | 1.432 |
DA | 0.043 (0.730) | 1.0444 | −0.171 (0.257) | 0.842 | −0.621 (0.002) | 0.537 |
RW | −0.170 (0.081) | 0.8434 | −0.115 (0.384) | 0.891 | 0.144 (0.441) | 1.155 |
TW | −1.229 (0.0000) | 0.2925 | −0.744 (0.028) | 0.475 | −1.094 (0.009) | 0.334 |
Support | 0.192 (0.079) | 1.2117 | 0.278 (0.059) | 1.320 | 0.304 (0.122) | 1.355 |
Developed | −0.292 (0.020) | 0.7465 | −0.623 (0.0003) | 0.536 | −0.426 (0.061) | 0.652 |
Developing | 0.336 (0.0113) | 1.3969 | 0.388 (0.017) | 1.474 | 0.358 (0.103) | 1.430 |
Obs. No. | 4223 | 2716 | 1581 | |||
R2 | 0.029 | 0.026 | 0.038 | |||
Cor. pred. | 85.3% | 87.3% | 87.8% | |||
LR test | 77.395 (0.0000) | 54.195 (0.0000) | 41.887 (0.0000) |
Variable | Manufacturing | Services | Retail | |||
---|---|---|---|---|---|---|
Coef. | Odds Ratio | Coef. | Odds Ratio | Coef. | Odds Ratio | |
LCB | 0.083 (0.483) | 1.087 | −0.067 (0.651) | 0.935 | −0.217 (0.278) | 0.804 |
LNB | −0.475 (0.560) | 0.621 | −0.234 (0.829) | 0.790 | −0.419 (0.705) | 0.657 |
EF | 0.089 (0.385) | 1.093 | 0.079 (0.545) | 1.082 | −0.071 (0.691) | 0.930 |
DP | 0.312 (0.021) | 1.366 | −0.326 (0.0387) | 0.721 | −0.148 (0.459) | 0.861 |
GG | 0.070 (0.654) | 1.072 | 0.239 (0.273) | 1.269 | 0.397 (0.160) | 1.488 |
OBA | 0.281 (0.009) | 1.325 | −0.134 (0.294) | 0.874 | 0.045 (0.787) | 1.046 |
DA | 0.020 (0.848) | 1.020 | 0.261 (0.047) | 1.299 | −0.194 (0.245) | 0.823 |
RW | −0.099 (0.230) | 0.905 | −0.198 (0.067) | 0.820 | −0.076 (0.607) | 0.926 |
TW | −0.871 (0.0001) | 0.418 | −0.748 (0.012) | 0.473 | −0.967 (0.012) | 0.380 |
Support | 0.062 (0.479) | 1.064 | 0.138 (0.242) | 1.148 | 0.150 (0.335) | 1.162 |
Developed | −0.570 (0.0000) | 0.565 | −0.379 (0.005) | 0.684 | −0.509 (0.005) | 0.600 |
Developing | 0.525 (0.0000) | 1.691 | 0.957 (0.0000) | 2.606 | 0.734 (0.0000) | 2.085 |
Obs. No. | 4279 | 2772 | 1617 | |||
R2 | 0.041 | 0.056 | 0.046 | |||
Cor. pred. | 76.5% | 78.4% | 79.4% | |||
LR test | 194.54 (0.0000) | 164.83 (0.0000) | 76.561 (0.0000) |
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Olczyk, M.; Kuc-Czarnecka, M.E. Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data. Energies 2021, 14, 4155. https://0-doi-org.brum.beds.ac.uk/10.3390/en14144155
Olczyk M, Kuc-Czarnecka ME. Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data. Energies. 2021; 14(14):4155. https://0-doi-org.brum.beds.ac.uk/10.3390/en14144155
Chicago/Turabian StyleOlczyk, Magdalena, and Marta Ewa Kuc-Czarnecka. 2021. "Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data" Energies 14, no. 14: 4155. https://0-doi-org.brum.beds.ac.uk/10.3390/en14144155