School of Finance and Accounting, Fuzhou University of International Studies and Trade, Fuzhou, 350202, China.
School of Economics, Fujian Normal University, Fuzhou, 350117, China.
Environ Sci Pollut Res Int. 2023 Apr;30(18):53977-53996. doi: 10.1007/s11356-023-25871-3. Epub 2023 Mar 4.
We use a variety of organization-level datasets to examine the effectiveness and efficiency of the nations for the coronavirus epidemic. COVID-19 subsidies appear to have saved a significant number of jobs and maintained economic activity during the first wave of the epidemic, according to conclusions drawn from the experiences of EU member countries. General allocation rules may yield near-optimal outcomes in favor of allocation, as firms with high ecological footprints or zombie firms have lower access to government financing than more favorable, commercially owned, and export-inclination firms. Our assumptions show that the pandemic has a considerable negative impact on firm earnings and the percentage of illiquid and non-profitable businesses. Although they are statistically significant, government wage subsidies have a modest impact on corporate losses compared to the magnitude of the economic shock. Larger enterprises, which receive a lesser proportion of the aid, have more room to increase their trade liabilities or liabilities to linked entities. In contrast, according to our estimations, SMEs stand a greater danger of insolvency.
我们使用了各种组织层面的数据来研究各国在冠状病毒疫情期间的有效性和效率。根据欧盟成员国的经验得出的结论表明，COVID-19 补贴在疫情的第一波期间似乎挽救了大量的工作岗位并维持了经济活动。一般分配规则可能会产生有利于分配的近乎最优结果，因为生态足迹高或僵尸企业的企业获得政府融资的机会比更有利可图、商业拥有和出口倾向的企业要少。我们的假设表明，大流行对企业收益和非流动性和非盈利企业的比例产生了相当大的负面影响。尽管政府工资补贴在统计学上对企业损失有显著影响，但与经济冲击的规模相比，其影响较小。接受援助比例较小的较大企业有更大的空间增加其贸易负债或与关联实体的负债。相比之下，根据我们的估计，中小企业面临更大的破产风险。
