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2023 Annual Conference

del 16 al 18 de May del 2023

Palace Station Hotel & Casino, Las Vegas, NV, US

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

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Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.

A1b Business Hardships and COVID-19 Adversities of Older U.S. Business Owners

martes, el 16 de mayo de 2023 a las 15:30–17:00 PDT
Room 1
Short Description

As COVID-19 has caused severe financial shocks for U.S. businesses, to survive this economic downturn, the top priority for business owners in the current timeline is to find a path for recovery. This research aims to investigate the relationship between the unprecedented COVID-19 pandemic adversities and business-related hardships. This study utilizes the 2020 Health and Retirement Study (HRS) Core dataset, with a sample of 629 U.S. business owners whose businesses have been affected because of the pandemic. The Structural Equation Model (SEM), along with the Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA), was designed to validate whether business owners who have suffered from COVID-19 adversities are more likely to encounter business hardships. Business owners can benefit from the research by enhancing their financial resilience using special techniques that need to implement during current or future pandemics. The preliminary results indicate that business owners who have suffered from COVID adversities (financial hardship, income decrease, bills help) are more likely to encounter business hardships (close business, extra policies, workers quitting). Business owners can benefit from the research by enhancing their financial resilience using special techniques that need to implement during current or future pandemics.

Type of presentation

Accepted Oral Presentation

Submitter

Jia Qi, University of Georgia

Authors

Jia Qi, University of Georgia
Yu Zhang, University of Georgia
Swarn Chatterjee, University of Georgia
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