Arbeitspapier

COVID-19 and the resilience of European firms: The influence of pre-crisis productivity, digitalisation and growth performance

We analyse how the COVID-19 crisis impacted firms' employment levels and digitalisation efforts differently depending on their pre-crisis productivity, digitalisation and growth performance. We match the EIB Investment Survey with firm-level financial statements from the ORBIS database for 27 EU Member States and the United Kingdom. Following the sales decline during the crisis, we show that: (1) Higher productivity firms are less prone to reduce the number of employees both in the short and in the long term; (2) High-growth enterprises are also less prone to reduce the number of employees in the long term; (3) Firms in highly digitalised sectors are less likely to reduce the number of employees; (4) Firms are more likely to increase their use of digital technologies, especially those that were already more digitalised before the crisis.

ISBN
978-92-861-5392-1
Language
Englisch

Bibliographic citation
Series: EIB Working Papers ; No. 2022/13

Classification
Wirtschaft
Firm Organization and Market Structure
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Subject
HGE
labour productivity
digitalisation
COVID-19
Mercedes Teruel
Sofia Amaral-Garcia
Peter Bauer
Alex Coad
Clemens Domnick
Péter Harasztosi
Rozália Pál

Event
Geistige Schöpfung
(who)
Teruel, Mercedes
Amaral-Garcia, Sofia
Bauer, Péter
Coad, Alexander
Domnick, Clemens
Harasztosi, Péter
Pál, Rozália
Event
Veröffentlichung
(who)
European Investment Bank (EIB)
(where)
Luxembourg
(when)
2022

DOI
doi:10.2867/388751
Handle
Last update
10.03.2025, 11:43 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Teruel, Mercedes
  • Amaral-Garcia, Sofia
  • Bauer, Péter
  • Coad, Alexander
  • Domnick, Clemens
  • Harasztosi, Péter
  • Pál, Rozália
  • European Investment Bank (EIB)

Time of origin

  • 2022

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