Analyzing the Impact of the COVID-19 Pandemic on Value Creation: The Case of Euronext Lisbon

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Author(s): Rosa Galvão (Polytechnic Institute of Setúbal, Portugal)and Ana Bela de Sousa Delicado Teixeira (Polytechnic Institute of Setúbal, Portugal)
Copyright: 2021
Pages: 21
Source title: Handbook of Research on Financial Management During Economic Downturn and Recovery
Source Author(s)/Editor(s): Nuno Miguel Teixeira (Center for Research in Business and Administration, School of Business Sciences, Polytechnic Institute of Setúbal, Portugal)and Inês Lisboa (CARME, School of Management and Technology, Polytechnic of Leiria, Portugal)
DOI: 10.4018/978-1-7998-6643-5.ch009

Keywords: Accounting and Finance / Business & Management / Business Science Reference / Economics & Economic Theory

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Abstract

Operating in an already challenging business environment, companies have faced yet another difficulty since March 2020, when the World Health Organization (WHO) declared a global pandemic situation related to the COVID-19 disease. The study's purpose was to analyze the value creation in Euronext Lisbon companies from the first semester of 2019 to the first semester of 2020. The aim was also to identify the areas with the most impact on value creation. To measure value creation, the indicator economic value added (EVA®) was used. The results revealed that the capacity to create value decreased for all companies. The variables included in the study that showed a statistically significant relationship with EVA® were operating profit, sales revenue, and cost of equity. This pandemic situation poses a significant threat to value creation, enhancing the idea that, more than ever, business management needs to focus on long-term value creation strategies.

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Analyzing the Impact of the COVID-19 Pandemic on Value Creation: The Case of Euronext Lisbon

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