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The Impact of the COVID-19 Pandemic on the Automotive Industry in Visegrad Four Countries

In: Advances in Empirical Economic Research

Author

Listed:
  • Hussam Musa

    (Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management)

  • Frederik Rech

    (Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management)

  • Zdenka Musova

    (Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management)

  • Chen Yan

    (Faculty of Economics, Matej Bel University in Banská Bystrica, Department of Corporate Economics and Management)

Abstract

The COVID-19 pandemic had detrimental impacts on all sectors across the world, with the automotive sector not being an exception. It paralyzed demand for vehicles and disrupted the entire supply chain. To decrease the spread of the COVID-19 coronavirus, individual governments introduced their own sets of restrictive and containment measures. The governments also rolled out various stimulus packages to stimulate the economy from the COVID-19 shock. The aim of this study is to quantify the country and size-based impact of the COVID-19 pandemic on the automotive sector in Visegrad Four countries using ANOVA analysis. As per our results, there is weak evidence, suggesting that companies in Slovakia had on average worse financial position as compared to companies in Poland and Hungary, mainly because of country-based pandemic measures and fiscal-related stimulus policies. In addition, there is moderate evidence, suggesting that medium-sized companies had on average a better financial position as compared to large companies. This may be due to the specific attention and fiscal stimulus small- and medium-sized companies received; thus, we provide possible implications of the successful stimulation of medium-sized companies. Finally, there is no interaction effect between the two factors.

Suggested Citation

  • Hussam Musa & Frederik Rech & Zdenka Musova & Chen Yan, 2023. "The Impact of the COVID-19 Pandemic on the Automotive Industry in Visegrad Four Countries," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Empirical Economic Research, chapter 0, pages 727-742, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-22749-3_45
    DOI: 10.1007/978-3-031-22749-3_45
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