Articles

Permanent URI for this collection

https://testres.nu.edu.kz/handle/123456789/827

Browse

Browsing Articles by Subject "COVID-19"

Now showing 1 - 2 of 2
  • Thumbnail Image
    ItemOpen Access
    HOW LOCKDOWN CAUSES A MISSING GENERATION OF START UPS AND JOBS
    (International Economics and Economic Policy, 2021-08-21) Karimov, Shyngys; Konings, Jozef
    This paper explores the impact of the COVID-19 lockdown on aggregate employment in Belgium. To this end, we use microdata of all Belgian frms and apply a machine learning-based approach to simulate the impact of the lockdown on employment growth under various economic scenarios. In doing so, we distinguish between start-ups and incumbent frms with both short and long-term efects. In the short term, we expect to see signifcant losses of employment coming mainly from mature incumbent frms. In the long term, the missing generation of start-ups formed during the lockdown will have a signifcant and growing efect of slowing down the employment growth even a decade after the lockdown.
  • Thumbnail Image
    ItemOpen Access
    WHERE DOES CORPORATE SOCIAL CAPITAL MATTER THE MOST? EVIDENCE FROM THE COVID-19 CRISIS
    (Finance Research Letters, 2021-11-10) Fiordelisi, Franco; Galloppo, Giuseppe; Lattanzio, Gabriele
    Firms with high social capital systematically outperform their peers during periods of economic distress. Yet, it is not clear under which institutional conditions corporate social capital is the most valuable to shareholders. By studying the performance of 1,789 firms in 27 countries during the initial phases of the COVID-19 pandemic, we document that the resilience effect of social capital is heterogeneous across countries. We identify the flexibility of a country's labor market as a critical determinant of corporate's returns on social capital-related investments. These findings are consistent with social capital hedging firms against systematic shocks by mitigating employee-related litigation risk.