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ABSTRACT
Using new data from the World Bank Group’s COVID-19 Impact Follow-up Enterprise Surveys completed in 39 countries, we find that a firm’s pre-pandemic financial condition is an important predictor of employment but only at the onset of the pandemic. Second, firms with teleworking arrangements, furloughed workers, and temporarily closed or reporting a decreased demand for products/services are more likely to reduce their workforce at extensive and intensive margins. We also found a clear effect of gender on employment. Firms with a majority of female workers are more likely to reduce their workforce than firms with a majority of male workers.
Disclosure Statement
The authors declare no conflicts of interest.
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Notes on contributors
Safi Ullah Khan
Dr. Safi Ullah Khan is Senior Assistant Professor at the UTB School of Business, Universiti Teknologi Brunie, Brunei Darussalam. He earned his post-doctorate in Finance from University of Kentucky (USA) in 2016 and doctorate from Mohammad Ali Jinnah University Islamabad, Pakistan. He has over 20 years of experience in teaching and research. Dr. Khan has broad-ranging research and teaching interests in corporate finance, corporate governance, asset pricing, and corporate innovation. His publications have appeared in several International Journals (Emerging Markets Finance and Trade, Research in International Business and Finance, Asia-Pacific Journal of Financial Studies). In addition, Dr. Khan is serving as a reviewer for several national and international journals.