Socio-economic and corporate factors and COVID-19 pandemic: a wake-up call

Abstract

The novel coronavirus 2019 (COVID-19) emerges from the Chinese city Wuhan and its spread to the rest of the world, primarily affected economies and their businesses, leading to a global depression. The explanatory and cross-sectional regression approach assesses the impact of COVID-19 cases on healthcare expenditures, logistics performance index, carbon damages, and corporate social responsibility in a panel of 77 countries. The results show that COVID-19 cases substantially increase healthcare expenditures and decrease corporate social responsibility. On the other hand, an increase in the coronavirus testing capacity brings positive change in reducing healthcare expenditures, increased logistics activities, and corporate social responsibility. The cost of carbon emissions increases when corporate activities begin to resume. The economic affluence supports logistics activities and improves healthcare infrastructure. It linked to international cooperation and their assistance to supply healthcare logistics traded equipment through mutual trade agreements. The greater need to enhance global trade and healthcare logistics supply helps minimize the sensitive coronavirus cases that are likely to provide a safe and healthy environment for living.

Keywords: COVID-19 cases; Carbon damages; Corporate social responsibility; Cross-sectional regression; Healthcare expenditures; Logistics activities.