The Impact of COVID-19 Pandemic on Firms Performance: Analysis of the Companies from the MBI10 Index

The purpose of this paper is to evaluate the effect of Covid-19 pandemic on firms’performance with a special focus on companies whose shares form the MBI10 index at theMacedonian Stock Exchange. The objective of the study is to examine a set of firms’characteristics implying the firms’ performance, such as: ROA, ROE, EBIT, profit margin,leverage, liquidity, share price and dividend per share in order to determine the differenceprior and post Covid-19 pandemic. Тhe hypotheses are tested according to theconstructed model and, based on financial data of companies from MBI10 index,descriptive and regression analysis is used in order to investigate the pandemic impacton firms’ performance. The results and conclusions reveal the extent of Covid-19pandemic influence on firms’ performance. This paper contributes to the limited literatureby providing empirical evidence on the impact of the ongoing pandemic on the firms’performance in the Macedonian economy