COVID‐19 impact, sustainability performance and firm value: international evidence

• DOI: 10.1111/acfi.12801
• Publication Date: 2021-05-07T01:00:59Z
• Authors: Sudipta Bose; Syed Shams; Muhammad Jahangir...; Dessalegn Mihret
• Keywords: Value (mathematics); Stakeholder Theory

Abstract We examine the impact of COVID‐19 on changes in firm value, and moderating role firm‐level sustainability performance this relationship. find that firms domiciled countries where is more devastating experienced greater decline value. The negative value less pronounced for with better performance. Firms higher levels environmental‐ stakeholder‐value‐oriented culture from COVID‐19. Findings suggest a firm’s stakeholder‐value orientation contributes to preserving when general stakeholder declines.