EIB Working Paper 2022/01
During the COVID-19 crisis, the European corporate ecosystem avoided major disruptions, and corporate bankruptcy rates even declined. This outcome mostly resulted from the strength of support from monetary, financial supervisory and fiscal policies. Using the 2021 vintage of the EIB Investment Su...
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| Hoofdauteurs: | , , , , , |
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| Formaat: | Online |
| Taal: | Engels |
| Gepubliceerd in: |
European Investment Bank
2022
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| Onderwerpen: | |
| Online toegang: | OCN: 1317839996 |
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| _version_ | 1869529196005425152 |
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| author | European Investment Bank Harasztosi, Péter Maurin, Laurent Pál, Rozália Revoltella, Debora van der Wiel, Wouter |
| author_browse | European Investment Bank Harasztosi, Péter Maurin, Laurent Pál, Rozália Revoltella, Debora van der Wiel, Wouter |
| author_facet | European Investment Bank Harasztosi, Péter Maurin, Laurent Pál, Rozália Revoltella, Debora van der Wiel, Wouter |
| author_sort | European Investment Bank |
| collection | Directory of Open Access Books |
| description | During the COVID-19 crisis, the European corporate ecosystem avoided major disruptions, and corporate bankruptcy rates even declined. This outcome mostly resulted from the strength of support from monetary, financial supervisory and fiscal policies. Using the 2021 vintage of the EIB Investment Survey (EIBIS) matched with balance sheet data on firms' profits and losses, this paper investigates what has driven the allocation of fiscal policy support and the impact of this support during the investment recovery. It finds that support was largely directed towards firms that were most affected by the crisis in terms of lost sales, and was not tilted firms already weak before the crisis. It also shows that the firms that benefitted from this support tend to be more optimistic in their investment plans, especially with regard to digital technologies. |
| format | Online |
| id | doab-20.500.12854ir-81284 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | European Investment Bank |
| publisherStr | European Investment Bank |
| record_format | ojs |
| spelling | doab-20.500.12854ir-812842025-07-30T05:23:09Z EIB Working Paper 2022/01 European Investment Bank Harasztosi, Péter Maurin, Laurent Pál, Rozália Revoltella, Debora van der Wiel, Wouter Business & Economics Corporate Finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance During the COVID-19 crisis, the European corporate ecosystem avoided major disruptions, and corporate bankruptcy rates even declined. This outcome mostly resulted from the strength of support from monetary, financial supervisory and fiscal policies. Using the 2021 vintage of the EIB Investment Survey (EIBIS) matched with balance sheet data on firms' profits and losses, this paper investigates what has driven the allocation of fiscal policy support and the impact of this support during the investment recovery. It finds that support was largely directed towards firms that were most affected by the crisis in terms of lost sales, and was not tilted firms already weak before the crisis. It also shows that the firms that benefitted from this support tend to be more optimistic in their investment plans, especially with regard to digital technologies. 2022-05-12T04:20:16Z 2022-05-12T04:20:16Z 2022-04-27T05:33:57Z 2022 book OCN: 1317839996 https://library.oapen.org/handle/20.500.12657/54222 9789286152108 https://directory.doabooks.org/handle/20.500.12854/81284 eng open access image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/54222/1/economics_working_paper_2022_01_en.pdf https://library.oapen.org/bitstream/20.500.12657/54222/1/economics_working_paper_2022_01_en.pdf https://library.oapen.org/bitstream/20.500.12657/54222/1/economics_working_paper_2022_01_en.pdf https://library.oapen.org/bitstream/20.500.12657/54222/1/economics_working_paper_2022_01_en.pdf https://library.oapen.org/bitstream/20.500.12657/54222/1/economics_working_paper_2022_01_en.pdf European Investment Bank European Investment Bank https://doi.org/10.2867/24308 https://doi.org/10.2867/24308 feca012f-a3d8-4aac-95aa-b6cf4bdbed7c Knowledge Unlatched 9789286152108 Knowledge Unlatched (KU) KU Open Services European Investment Bank open access |
| spellingShingle | Business & Economics Corporate Finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance European Investment Bank Harasztosi, Péter Maurin, Laurent Pál, Rozália Revoltella, Debora van der Wiel, Wouter EIB Working Paper 2022/01 |
| title | EIB Working Paper 2022/01 |
| title_full | EIB Working Paper 2022/01 |
| title_fullStr | EIB Working Paper 2022/01 |
| title_full_unstemmed | EIB Working Paper 2022/01 |
| title_short | EIB Working Paper 2022/01 |
| title_sort | eib working paper 2022 01 |
| topic | Business & Economics Corporate Finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance |
| topic_facet | Business & Economics Corporate Finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance |
| url | OCN: 1317839996 |
| work_keys_str_mv | AT europeaninvestmentbank eibworkingpaper202201 AT harasztosipeter eibworkingpaper202201 AT maurinlaurent eibworkingpaper202201 AT palrozalia eibworkingpaper202201 AT revoltelladebora eibworkingpaper202201 AT vanderwielwouter eibworkingpaper202201 |