Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266387 
Year of Publication: 
2022
Series/Report no.: 
EIB Working Papers No. 2022/13
Publisher: 
European Investment Bank (EIB), Luxembourg
Abstract: 
We analyse how the COVID-19 crisis impacted firms' employment levels and digitalisation efforts differently depending on their pre-crisis productivity, digitalisation and growth performance. We match the EIB Investment Survey with firm-level financial statements from the ORBIS database for 27 EU Member States and the United Kingdom. Following the sales decline during the crisis, we show that: (1) Higher productivity firms are less prone to reduce the number of employees both in the short and in the long term; (2) High-growth enterprises are also less prone to reduce the number of employees in the long term; (3) Firms in highly digitalised sectors are less likely to reduce the number of employees; (4) Firms are more likely to increase their use of digital technologies, especially those that were already more digitalised before the crisis.
Subjects: 
HGE
labour productivity
digitalisation
COVID-19
Mercedes Teruel
Sofia Amaral-Garcia
Peter Bauer
Alex Coad
Clemens Domnick
Péter Harasztosi
Rozália Pál
JEL: 
L22
O47
Persistent Identifier of the first edition: 
ISBN: 
978-92-861-5392-1
Document Type: 
Working Paper

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