Performance of energy sector companies in time of pandemic COVID-19; International evidence

This study provides a comprehensive analysis of the global impact of COVID-19 on energy sector companies, taking into account company characteristics, market distinctions (developed and emerging markets), and sector differentiations (fossil fuels and alternative fuels). By examining financial report data from 1252 companies across 64 countries during the period 2018–2022, the study reveals a negative influence of COVID-19 on the performance of energy sector companies across all market and sector categories. Importantly, the findings highlight the significant role of company characteristics, including firm size, liquidity, and capital structure, in shaping the performance outcomes of energy sector companies.