Effect of COVID-19 on the Financial Performance of Indian Public Family Firms
Published: 2022
Author(s) Name: Juili Ballal and Varadraj Bapat |
Author(s) Affiliation: School of Management, Indian Institute of Technology Bombay, Powai, Mumbai
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Abstract
This study investigates the effects
of the COVID-19 pandemic on the
financial performance of Indian
companies. Using multiple regression
analysis on a sample of 2154
public companies, the study determines
the effects of the pandemic
on the financial performance measured
by Return on Assets (ROA).
Findings reveal that there was an
improved performance in the postpandemic
year. It is also observed
that the family firms outperformed
their non-family counterparts.
Family ownership, liquidity, size,
and revenue growth positively affect
firm ROA while leverage has a
negative effect. Age and receivables
turnover has no significant effect.
Similar trends are witnessed when
the performance is measured using
Return on Equity (ROE).
Keywords: N.A.
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