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dc.creatorCarletti, Elena
dc.creatorOliviero, Tommaso
dc.creatorPagano, Marco
dc.creatorPelizzon, Loriana
dc.creatorSubrahmanyam, Marti G.
dc.date.accessioned2021-09-28T09:40:44Z
dc.date.available2021-09-28T09:40:44Z
dc.date.issued2020-10-29
dc.identifier.urihttps://fif.hebis.de/xmlui/handle/123456789/2391
dc.description.abstractWe employ a representative sample of 80,972 Italian firms to forecast the drop in profits and the equity shortfall triggered by the COVID-19 lockdown. A 3-month lockdown generates an aggregate yearly drop in profits of about 10% of GDP, and 17% of sample firms, which employ 8.8% of the sample’s employees, become financially distressed. Distress is more frequent for small and medium-sized enterprises, for firms with high pre-COVID-19 leverage, and for firms belonging to the Manufacturing and Wholesale Trading sectors. Listed companies are less likely to enter distress, whereas the correlation between distress rates and family firm ownership is unclear.
dc.rightsAttribution-ShareAlike 4.0 International
dc.rights.urihttp://creativecommons.org/licenses/by-sa/4.0/
dc.subjectFinancial Markets
dc.titleThe COVID-19 Shock and Equity Shortfall: Firm-Level Evidence from Ital
dc.typeWorking Paper
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1776?Orbis
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1442?ISTAT
dcterms.referenceshttps://fif.hebis.de/xmlui/handle/123456789/1715?INAPP
dc.source.filename285_SSRN-id3671396
dc.identifier.safeno285
dc.subject.keywordscovid-19
dc.subject.keywordspandemics
dc.subject.keywordslosses
dc.subject.keywordsdistress
dc.subject.keywordsequity
dc.subject.keywordsrecapitalization
dc.subject.jelG01
dc.subject.jelG32
dc.subject.jelG33
dc.subject.topic1graph
dc.subject.topic1considerably
dc.subject.topic1employment
dc.subject.topic2arnold
dc.subject.topic2philip
dc.subject.topic2eurLex
dc.subject.topic3firm
dc.subject.topic3table
dc.subject.topic3addition
dc.subject.topic1nameStability and Regulation
dc.subject.topic2nameCorporate Governance
dc.subject.topic3nameCorporate Finance
dc.identifier.doi10.2139/ssrn.3671396


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