IDEAS home Printed from https://ideas.repec.org/a/spr/joerap/v5y2022i4d10.1007_s41996-022-00102-y.html
   My bibliography  Save this article

The Impact of the COVID-19 Pandemic on Business Ownership Across Racial/Ethnic Groups and Gender

Author

Listed:
  • Shinae L. Choi

    (The University of Alabama)

  • Erin R. Harrell

    (The University of Alabama)

  • Kimberly Watkins

    (University of Georgia)

Abstract

This study examined the economic impact of the COVID-19 pandemic on US older entrepreneurs’ businesses using the Health and Retirement Study. We estimated logistic regression models to document the odds of experiencing economic impact. The COVID-19 pandemic has affected nearly 76% of US older entrepreneurs but has disproportionately impacted the businesses of Black, Hispanic, Asian/other races, and women entrepreneurs. Older Black entrepreneurs had significantly higher odds of facing business closure (OR = 2.31, p

Suggested Citation

  • Shinae L. Choi & Erin R. Harrell & Kimberly Watkins, 2022. "The Impact of the COVID-19 Pandemic on Business Ownership Across Racial/Ethnic Groups and Gender," Journal of Economics, Race, and Policy, Springer, vol. 5(4), pages 307-317, December.
    • Handle: RePEc:spr:joerap:v:5:y:2022:i:4:d:10.1007_s41996-022-00102-y
    DOI: 10.1007/s41996-022-00102-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s41996-022-00102-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s41996-022-00102-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Granja, João & Makridis, Christos & Yannelis, Constantine & Zwick, Eric, 2022. "Did the paycheck protection program hit the target?," Journal of Financial Economics, Elsevier, vol. 145(3), pages 725-761.
    2. Robert W. Fairlie, 2020. "The Impact of Covid-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey," NBER Working Papers 27309, National Bureau of Economic Research, Inc.
    3. Humphries, John Eric & Neilson, Christopher A. & Ulyssea, Gabriel, 2020. "Information frictions and access to the Paycheck Protection Program," Journal of Public Economics, Elsevier, vol. 190(C).
    4. Matthew S. Rutledge & Norma B. Coe & Kendrew Wong, 2012. "Who Claimed Social Security Early Due to the Great Recession?," Issues in Brief ib2012-14, Center for Retirement Research.
    5. Simon Mongey & Laura Pilossoph & Alexander Weinberg, 2021. "Which workers bear the burden of social distancing?," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 19(3), pages 509-526, September.
    6. Stephen, Roper & Jonathan M., Scott, 2009. "Perceived financial barriers and the start-up decision: An econometric analysis of gender differences using GEM data," MPRA Paper 23342, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Choi, Shinae L. & Lee, Yoon G., 2023. "Financial hardship and change in emotional well-being before to during COVID-19 pandemic among middle-aged and older Americans: Moderating effects of internal coping resources," Social Science & Medicine, Elsevier, vol. 317(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robert W. Fairlie & Frank Fossen, 2021. "Did the $660 Billion Paycheck Protection Program and $220 Billion Economic Injury Disaster Loan Program Get Disbursed to Minority Communities in the Early Stages of COVID-19?," NBER Working Papers 28321, National Bureau of Economic Research, Inc.
    2. Webster Allan & Khorana Sangeeta & Pastore Francesco, 2022. "The effects of COVID-19 on employment, labor markets, and gender equality in Central America," IZA Journal of Development and Migration, Sciendo & Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 13(1), pages 1-43, January.
    3. Allen, Kyle D. & Whitledge, Matthew D., 2022. "Further evidence on the effectiveness of community banks in the Paycheck Protection Program," Finance Research Letters, Elsevier, vol. 47(PA).
    4. Guerrero-Amezaga, Maria Elena & Humphries, John Eric & Neilson, Christopher A. & Shimberg, Naomi & Ulyssea, Gabriel, 2022. "Small firms and the pandemic: Evidence from Latin America," Journal of Development Economics, Elsevier, vol. 155(C).
    5. Lei Li & Philip Strahan, 2020. "Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis," NBER Working Papers 28286, National Bureau of Economic Research, Inc.
    6. Santos, Cezar & Kozeniauskas, Nicholas & Moreira, Pedro, 2020. "Covid-19 and Firms: Productivity and Government Policies," CEPR Discussion Papers 15156, C.E.P.R. Discussion Papers.
    7. Francesco Campobasso & Michele Samuele Borgia & Francesco Albergo, 2023. "Facing the storm: Lessons from corporate social responsibility during the covid pandemic," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 3174-3188, November.
    8. Sriya Anbil & Mark A. Carlson & Mary-Frances Styczynski, 2021. "The Effect of the PPPLF on PPP Lending by Commercial Banks," Finance and Economics Discussion Series 2021-030, Board of Governors of the Federal Reserve System (U.S.).
    9. Steven Hamilton, 2020. "A Tale of Two Wage Subsidies: The American and Australian Fiscal Responses to COVID-19," National Tax Journal, National Tax Association;National Tax Journal, vol. 73(3), pages 829-846, September.
    10. Gustavo Joaquim & J. Christina Wang, 2022. "What Do 25 Million Records of Small Businesses Say about the Effects of the PPP?," Working Papers 22-23, Federal Reserve Bank of Boston.
    11. Giovanni Gallipoli & Christos A. Makridis, 2022. "Sectoral digital intensity and GDP growth after a large employment shock: A simple extrapolation exercise," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 446-479, February.
    12. Humphries, John Eric & Neilson, Christopher A. & Ulyssea, Gabriel, 2020. "Information frictions and access to the Paycheck Protection Program," Journal of Public Economics, Elsevier, vol. 190(C).
    13. Berger, Allen N. & Demirgüç-Kunt, Asli, 2021. "Banking research in the time of COVID-19," Journal of Financial Stability, Elsevier, vol. 57(C).
    14. Chen, Joy & Cheng, Zijun & Gong, Robin Kaiji & Li, Jinlin, 2022. "Riding out the COVID-19 storm: How government policies affect SMEs in China," China Economic Review, Elsevier, vol. 75(C).
    15. Ainon Ramli & Liafisu Sina Yekini, 2022. "Cash Flow Management among Micro-Traders: Responses to the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(17), pages 1-21, September.
    16. Raj Chetty & John N. Friedman & Michael Stepner & The Opportunity Insights Team, 2020. "The Economic Impacts of COVID-19: Evidence from a New Public Database Built Using Private Sector Data," NBER Working Papers 27431, National Bureau of Economic Research, Inc.
    17. Shui, Bingbing, 2023. "Major risk shocks, financial relief policies and loan maturity for MSMEs: Evidence from China," Finance Research Letters, Elsevier, vol. 55(PA).
    18. Sabrina T. Howell & Theresa Kuchler & David Snitkof & Johannes Stroebel & Jun Wong, 2021. "Lender Automation and Racial Disparities in Credit Access," NBER Working Papers 29364, National Bureau of Economic Research, Inc.
    19. Kristopher Deming & Stephan Weiler, 2023. "Banking Deserts and the Paycheck Protection Program," Economic Development Quarterly, , vol. 37(3), pages 259-276, August.
    20. Sebnem Kalemli-Ozcan & Pierre-Olivier Gourinchas & Veronika Penciakova & Nick Sander, 2020. "COVID-19 and SME Failures," IMF Working Papers 2020/207, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joerap:v:5:y:2022:i:4:d:10.1007_s41996-022-00102-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.